Mondelez International Inc (MDLZ.O), maker of Cadbury chocolate and Oreo cookies, on Tuesday added activist investor Nelson Peltz to its board in a compromise agreement that ends his campaign to have PepsiCo Inc (PEP.N) take over the company.
Peltz urged Mondelez to sell itself to the beverage and snacks giant
Analysts now expect the influential investor to separately lobby each company to improve their results.
Last year, Peltz urged Mondelez to sell itself to the beverage and snacks giant, but PepsiCo balked at such a deal.
Trian is Mondelez's fourth-largest shareholder, with a 2.3 percent stake, according to Thomson Reuters data. Trian also owns 0.8 percent of PepsiCo.
Peltz last summer said PepsiCo was at a "strategic crossroads" due to changing consumer tastes and the rising importance of emerging markets, and outlined two scenarios for improving results.
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