Peltz launched his campaign to split up PepsiCo (PEP) in 2013 by urging the company to spin off its beverage unit, but he's been repeatedly rebuffed by management and the stock has risen over 9% this year. That left some wondering if Peltz was willing to carry on with his battle.
On Wednesday, he put those uncertainties to bed and indicated that he was doubling down on his fight. He's recently met with roughly 100 of the food and drink giant's major shareholders and said a proxy contest is possible.
"The shareholders own the company, and the reason the stock is at $90 today, it is not because of earnings," Peltz said at the conference. "It's because we're there, and shareholders are starting to agree with what we're suggesting this company do."
