Elliott Pushes For PepsiCo Turnaround With $4 Billion Stake

The activist said it sees the potential for the food and beverage giant's shares to rise more than 50%

Activist investor Elliott Investment Management has built a roughly $4 billion stake in PepsiCo and is pushing the beverage and snacks giant to refranchise its bottling business and make other changes to boost its sagging share price.

PepsiCohas been struggling to win back soda drinkers after ceding market share to rivals. Its food business, once an engine of growth for the company, is also...

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