PepsiCo likely withdrawing from talks to buy Brazilian cookie maker Marilan Alimentos after encountering tax issues during due diligence process, offering lower price than what Marilan's controlling family is seeking, according to news report
February 6, 2012
– According to a news report in O Estado de S. Paulo, PepsiCo has likely withdrawn from talks to buy Brazilian cookie maker Marilan Alimentos SA, Bloomberg reported Feb. 6.
According to the article, PepsiCo is likely to withdraw after encountering tax issues during the due diligence process and offering a price that was lower than what Marilan’s controlling family were seeking.
Both PepsiCo and Marilan denied the information, the article said.
The primary source of this article is Bloomberg, New York, New York, on Feb. 6, 2012.