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Pizza Hut PepsiCo merger reported near
NEW YORK AP PepsiCo the nations second largest soft drink maker says it has a preliminary agreement to merge with Pizza Hut Inc the nations largest pizza restaurant chain The transaction would be worth more than 300 million Exchange of 1.55 PepsiCo shares for each Pizza Hut share Subject to directors and shareholder approval Frank L Carney chairman and president of Pizza Hut would remain as president and COO and would become a PepsiCo director Pizza Hut fiscal 1977 sales 309 million up 28 percent with profits 21.6 million up 42 percent Pizza Hut over 2700 outlets with growth rates among the highest in the franchise sector
MENTIONED IN THIS ARTICLE
New York
PepsiCo ,Inc
Pizza Hut Inc
N.Y
PepsiCo
Pizza’ Hut
Sti Oomoner
SPN
Frank L. Carney
Pizza Hut
Wichita, Kan
Nounced
Carney