(AP) PepsiCo Inc. issued a statement Friday saying it doesn't see the need for any major acquisitions after a newspaper report suggested activist investor Nelson Peltz could push for a merger between the snack-and-soda giant and Oreo cookie maker Mondelez International.
The Telegraph of London reported that Peltz has taken stakes in both companies.
In a short statement, the Purchase, N.Y.-based company said that it doesn't comment on market rumor or speculation.
"As we've said before, we are making strong progress in our strategy to deliver long-term growth and create shareholder value," the company said.
Mondelez International Inc., which split from Kraft Foods Group Inc. last year, also said it was satisfied with its portfolio as it stands.
A representative for Peltz's Trian Fund Management declined to comment.