• May 17, 2012

Activist investor Relational Investors LLC has acquired an approximately $600 million stake in PepsiCo, which is likely to put more performance pressure on the company, reports The Wall Street Journal.

While Relational hasn't called for any immediate changes, the firm has let its view be known: PepsiCo should separate its slow-growing beverages business from the rest of the company.

WSJ reports that inside sources say that Relational and PepsiCo have come to an understanding that if performance improvement is not forthcoming in the North American beverages business, changes will occur.