date:Feb 28, 2014
and beverage company.
In short, the board and management have concluded that the financial engineering you (Peltz) propose erodes value for shareholders rather than creates value, Cook wrote in the letter sent to Trian Fund Management, Peltz's investment fund.
PepsiCo's response comes a week after Peltz sent a 37-page letter to its board urging them to create two leaner and more entrepreneurial companies by spinning off the floundering beverage business and focusing on its fast-growing billion