Grant & Eisenhofer secured $1.3 billion in additional merger value as lead counsel for shareholders of Pepsi Bottling Group and PepsiAmericas
Plaintiff(s):
Shareholders of Pepsi Bottling Group, Inc. (PBG) and PepsiAmericas, Inc. (PAS)
Case type / claims:
Shareholder class actions challenging PepsiCo’s acquisition of its two largest bottlers, alleging that PepsiCo—through its domination and control of both boards—made inadequate and unfair offers to minority shareholders. Plaintiffs asserted breaches of fiduciary duty in connection with the valuation and negotiation processes.
Defendant(s):
Boards of Directors of Pepsi Bottling Group, Inc. and PepsiAmericas, Inc.; PepsiCo, Inc.
Jurisdiction:
Delaware Chancery Court
Year:
2010
Outcome:
- Total shareholder gain of approximately $1.3 billion across both classes.
- Case demonstrated the power of shareholder advocacy in improving fairness and transparency in controller transactions.
