PepsiAmericas investor Gamco sells shares, keeps 4.58% ownership

By Lisa Kerner

Charlotte, N.C., Aug. 26 - A group of PepsiAmericas, Inc. investors led by Gamco Asset Management Inc. sold a net 537,730 shares of the company's stock in a series of buy and sell transactions between June 26 and Aug. 25.

The shares were priced from $26.02 to $28.50 each, according to a schedule 13D/A filed with the Securities and Exchange Commission on Wednesday.

Gamco and its affiliates beneficially own 5,702,713 shares, or 4.58%, of the Minneapolis beverage products company.

As previously reported, on Aug. 4 PepsiCo, Inc. announced it will acquire PepsiAmericas and Pepsi Bottling Group, Inc. in cash-and-stock deals valued at a combined $7.8 billion.

PepsiAmericas shareholders can elect to receive $28.50 in cash or 0.5022 PepsiCo shares, while Pepsi Bottling shareholders can choose either $36.50 in cash or 0.6432 shares in exchange for their holdings.

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