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PepsiAmericas shareholders meet as buyout offer looms

As an acquisition offer from PepsiCo looms, shareholders of Minneapolis-based PepsiAmericas meet Thursday to discuss the state of the company. Pepsi Bottling Group, another distributor Pepsi seeks to buy, rejected the offer on Monday.

PepsiAmericas, the Pohlad-owned Pepsi bottler and distributor, holds its annual shareholders meeting on Thursday, and a likely topic of discussion will be the recent offer by PepsiCo to acquire the company.

Pepsi last month proposed buying both PepsiAmericas and another independent distributor, Pepsi Bottling Group, for a combined $6 billion.

On Monday, Pepsi Bottling Group, of New York, voted to reject Pepsi’s offer as “grossly inadequate. The company also approved a so-called “poison pill” plan, which safeguards against hostile takeover attempts.

PepsiAmericas said it has created a committee to review the offer from Pepsi, which has offered to acquire all of its outstanding shares.