PepsiCo., Nestle reportedly explored merger
No deal was reached because Nestle wanted to build a more health conscious business, according to the Wall Street Journal.
LONDON (CNNMoney.com) -- PepsiCo Inc. and Nestle explored a merger earlier this year but a number of complications got in the way of a deal, the Wall Street Journal reported Thursday.
PepsiCo, whose products include Pepsi-Cola and Doritos, approached Swiss-based Nestle to discuss a deal, the newspaper said, citing a source familiar with the matter.
But Nestle felt Pepsi, which is focused on snacks and soft drinks, could weaken its aim of building a more health conscious business, the report said.