After two weeks of speculation that PepsiCo was going to launch a hostile takeover bid for France's Danone, shares of Danone went up 20%. Now, PepsiCo has denied any plans to do so, and Danone has quickly lost 9% of its market value. Danone seems to at least be glad that the speculation is over.
"The excitement surrounding Danone shares should ease somewhat in the short term," said Cyril Freu, an analyst with Ixis Securities. But "Danone remains an attractive target."
PepsiCo shares fell 0.6% to $54.53 according to Reuters, making the company worth about $91 billion. Danone shares fell to 80.5 euros after reaching 92.65 euros.
Chris is a staff writer for latest ebusiness news. 
No comments yet. Be the first to comment!