Holder Peltz says "there will be action," alludes to a potential proxy fight with Pepsi - Delivering Alpha
- Peltz says he has met with over 100 shareholders of PEP in the last six months. The stock is moving higher not because of management performance but because shareholders like our activist stance.
- Have not spoken with Pepsi CEO since Feb.
- Not satisfied with FDO performance. Believe Icahn's activism will be effective.
- Having what I hope will be constructive conversations with BK board. Will not discuss details of his proposal, wants the board to digest his ideas before making them public.
**NOTE: on 7/17/13, Holder Trian (Peltz) outlined scenarios on why stakes were taken in Pepsi and Mondelez; Sees possible combination of the two whereby Pepsi acquires MDLZ for $35-38/shr.
- 02/20/14: PEP: Trian Partners ($1.2B stake holder) delivers letter and white paper to board on splitting company into beverages and snacks - US financial press