Judge denied bid by Ocean Spray to block Tropicana sale to Pepsi

Article Abstract:

Ocean Spray Cranberries Inc.'s motion for a preliminary injunction against PepsiCo Inc.'s planned $3.3 billion acquisition of Seagram Co.'s Tropicana has been rejected by a federal judge. Ocean Spray filed a suit against the acquisition on August 10, 1998. The company requested that a US District Court prevent Pepsi's sale or distribution of any single-serving juice that is in competition with Ocean Spray. Ocean Spray claimed that the deal violated its distribution agreement with Pepsi.

Comment:

Ocean Spray's motion to stop PepsiCo's planned purchase of Tropicana rejected by federal judge

Legal issues & crime, Asset sales & divestitures, Acquisitions & mergers, Canned Fruit Juices, Fruit and Vegetable Canning, Legal/Government Regulation, Canned Fruits & Vegetables, Canned juices, Canned foods, Seagram Company Ltd., Ocean Spray Cranberries Inc., Tropicana Products Inc.

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PepsiCo third-quarter profit rose 38% but fell slightly short of expectations

Article Abstract:

Purchase, NY-based PepsiCo Inc. reported a slightly improved third-quarter profit, before a one-time gain, but fell slightly short of analysts' predictions. The company's earnoings rose 38% to $761 million. Figures do not include the fast-food businesses which PepsiCo spun off in 1997. Analysts feel that profitability is in the company's future as it invests more heavily in its Pepsi-Cola and Frito-Lay divisions

Comment:

Reported a slightly improved third-quarter profit, before a one-time gain

Sales, profits & dividends

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