05:14 PM EDT, 09/30/2024 (MT Newswires) -- PepsiCo ( PEP ) is in advanced discussions to acquire Siete Foods in a deal valued over $1 billion, the Wall Street Journal reported Monday, citing people familiar with the matter.

The deal, which saw competition from private equity buyers and other food companies, could be announced soon, conditional on the talks not falling apart, the people reportedly said.

Neither PepsiCo ( PEP ) nor Siete Foods immediately responded to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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