PepsiCo, rumored to be mulling a bid for French food group Danone, has told the French market regulator AMF that it is not preparing a takeover, French newspaper Les Echos said

Food & Drink Weekly, August 1, 2005

PepsiCo, rumored to be mulling a bid for French food group Danone, has told the French market regulator AMF that it is not preparing a takeover, French newspaper Les Echos said. The newspaper said it had been told by AMF that PepsiCo had informed the market regulator that "it was not preparing any such operation at the moment." The possibility of Danone, the maker of yogurts, Evian mineral waters and Tiger and LU brand biscuits, being the subject of a takeover from a U.S.

firm has prompted politicians to issue a string of warnings against any such move. French President Jacques Chirac came out in defense of the company on Thursday, saying he was "vigilant and mobilized" should a foreign company mount a bid.