Mondelez International Inc, maker of Cadbury chocolate and Oreo cookies, added activist investor Nelson Peltz to its board in a deal that ends his campaign to have the company merge with PepsiCo Inc.Peltz, who is on the PepsiCo board, said last year that Mondelez should be acquired by the beverage giant but that it could also almost double earnings per share by managing costs better.As part of the agreement with Mondelez, Peltz will not continue his push for a merger with Pepsico, a source familiar with the matter told Reuters.Mondelez shares fell 2.4 percent to $34.40 in early trading on Tuesday.
Mondelez International, Inc. (Mondelez International), is a snack manufacturing company. Shares of MDLZ fell by 2.57% or $-0.905/share to $34.34. In the past year, the shares have traded as low as $26.45 and as high as $36.05. On average, 8772730 shares of MDLZ exchange hands on a given day and today's volume is recorded at 4325733.
PepsiCo, Inc. (PepsiCo) is a global food and beverage company. Shares of PEP traded higher by 0.55% or $0.45/share to $82.65. In the past year, the shares have traded as low as $70.98 and as high as $87.06. On average, 4445890 shares of PEP exchange hands on a given day and today's volume is recorded at 551509.
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