date:Mar 03, 2014
The board of directors of PepsiCo, Inc. has rejected shareholder Trian Fund Managements latest call for the company to breakup.
I am writing to advise you that the board and management are comfortable and in complete alignment in rejecting your proposal, wrote Ian Cook, presiding director for PepsiCo, in a Feb. 27 to Nelson Peltz, who leads Trian Fund Management L.P., which owns about $1.2 billion worth of PepsiCo common shares.
In a Feb. 19 letter to the PepsiCo board, Trian Fund recommended