Friday, PepsiCo (PEP ) announced that it has withdrawn and will refile its notification and report forms filed with the Federal Trade Commission to provide the commission additional 30 days to review PepsiCo's buyout of the Pepsi Bottling Group, Inc. and PepsiAmericas, Inc. , under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 Act.
PepsiCo originally filed its notification and report forms on September 11, 2009. and now after the informal discussions with the FTC, has withdrawn both notification and report forms effective October 13, 2009 and will refile them on October 15, 2009 to give more time for the Staff to review the proposed transactions.
Upon refiling of both notification FTC will have thirty days time to review the case while PepsiCo will co-operate with the staff for taking an appropriate decision.
However, it is possible that prior to the expiration of the new waiting period , PepsiCo may voluntarily withdraw and refile its notification and report forms again, in order to provide the Staff with more time to review the proposed acquisition without requiring the Staff to issue a Second Request.
PEP closed Friday's regular trading at $60.59 up $0.20 or 0.33% on a volume of 6.352 million shares on the NYSE and in the after hour trading the stock price decreased to $60.39 down $0.20 or 0.33%.
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