PepsiCo offer $1.7 billion to acquire South Africa's Pioneer Foods
PepsiCo, Inc. (NASDAQ:PEP) today announced that it has entered into an agreement to acquire all the outstanding shares of Pioneer Foods Group Ltd. (JSE:PFG) for R110.00 per share in cash (approximately US $1.7 billion), which represents a 56% premium to the 30-day volume weighted average price prior to the cautionary announcement on July 15, 2019.