The possibility of signifcant restructuring at US snack and drinkngiant PepsiCo has increased following the revelation that activistninvestor Nelson Peltz has built a US$150mn stake in the business.nThe news that Peltz has acquired 2.36mn PepsiCo shares throughnhis Trian Fund Management operation was revealed in a US se-ncurities fling and represents the frst time that Peltz has shown anninterest in the frm. PepsiCo currently trades at a discount to othernUS food and drink producers (see chart) and BMI has previouslynargued that it would likely be valued higher if it were to split into twonseparate businesses, focusing on soft drinks and snacks separately.nWhile Peltz may share this view the activist investor may feel thatnthere are simpler ways to restore the company’s momentum, whichnin particular has been hit by a drop in demand for soft drinks innits domestic market and investor concerns about a switch in focusntowards ‘healthier’ categories.
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机译：在活动投资人纳尔逊·佩尔茨（Nelson Peltz）建立了1.5亿美元的股份后，美国百事可乐公司进行重大重组的可能性有所增加。nPeltz通过Trian Fund Management业务收购了236万股百事可乐股份的消息透露。美国证券暴涨，代表着佩尔茨首次对金融市场表现出兴趣。百事可乐目前的股价相对于其他美国食品和饮料生产商折价（见图表），而BMI先前曾争辩说，如果将其拆分为两个独立的业务（分别专注于软饮料和零食），它的价值可能会更高。激进投资者可能会认为，这是恢复公司发展势头的更简单方法，尤其是受到对软饮料需求下降的打击，这刺激了国内市场，并且投资者担心将注意力转向“健康”类别。
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