Mr. Gamgort and his counterpart at Dr Pepper Snapple, Larry Young, began discussing a deal several months ago. Under the terms of the proposed transaction, Keurig would merge with Dr Pepper Snapple, creating a company called Keurig Dr Pepper. Shareholders in Dr Pepper Snapple would receive a cash dividend of $103.75 per share, about 8 percent higher than Dr Pepper Snapple’s closing share price on Friday. Mr. Gamgort would remain chief executive at Keurig Dr Pepper, while Mr. Young would join the combined company’s board. The transaction is expected to close by June 30, subject to approval by Dr Pepper Snapple shareholders and by regulators.

Source: New York Times January 29, 2018 14:03 UTC