Sanford Bernstein Analyst on 3G-PepsiCo Rumor: 'This Is Not New Thinking About 3G's Strategy'

Speaking to Benzinga, Sanford Bernstein Analyst Ali Dibadj said that a rumor coming from The Wall Street Journal that 3G Capital Partners is interested in acquiring food and beverage companies including PepsiCo, Inc. PEP is not a new thinking about 3G’s strategy.

“They could cut significant costs in the business, which is quite global,” he said.

PepsiCo is trading about 2.4 percent higher. ETFs holding PepsiCo, including the Vanguard Consumer Staples ETF VDC and the iShares Dow Jones US Consumer Goods IYK, are trading up more than 1 percent today.