Lady Gaga Set To Headline SB Halftime Coca-Cola Going Big On Social Media Around Rio Emmanuel Seuge Set To Depart Coca-Cola Coke's Bea Perez Gets Expanded Authority Coke Scales Back Global Olympic Marketing Coca-Cola Takes Hit With Spieth Withdrawal Sponsors Activate Around MLB ASG Week Coca-Cola Releases New Ad Featuring Jordan Spieth Pepsi Beginning Emoji-Based MLB Campaign Mtn Dew To Sponsor DR1 Drone Racing League
SBD/24/Sponsorships Advertising Marketing
RUMORS OF COMPANY BEING SNAPPLED-UP RAISE STOCK PRICES
Published October 24, 1994
Rumors struck Snapple Beverage again Friday, "except this time they boosted the price of the company's stock." Shares of the company's stock surged as much as 26% as "Wall Street buzzed about the possibility of a takeover." Coke, Pepsi and Philip Morris were among the rumored suitors, "although several analysts dismissed the talk." Merrill Lynch's Allan Kaplan said a bid by Coke or Pepsi would be "ludicrous" because the cost of the acquisition would outweigh the earnings produced. An investment newsletter, Wall Street Strategies, told subscribers that it had heard a major beverage company would bid $25 a share, or $3B for the company. Snapple's stoke closed at 14 5/8, up 2 3/8 (James Lyons, N.Y. DAILY NEWS, 10/22). Other observers said Quaker Oats would be a more logical Snapple suitor. "Ironically, Quaker, with its successful Gatorade product, has been rumored to be a buyout target of Pepsi. Purchasing Snapple would help Quaker fend off potential predators" (ATLANTA CONSTITUTION, 10/22).