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PepsiCo Wants Bottler's Poison Pill Dismantled

Law360 (May 11, 2009, 12:00 AM EDT) -- PepsiCo Inc. asked a federal judge Monday to force the Pepsi Bottling Group Inc. to dismantle a poison pill embedded in a shareholder rights plan that the soft drink giant claims is designed to block its proposed takeover of its largest bottler and distributor.

In a lawsuit filed in the Delaware Court of Chancery, PepsiCo argues that the poison pill, which would give shareholders the right to purchase a preferred share in Pepsi Bottling Group if any entity purchases a 15 percent share in the bottler....
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