Activist investor takes a $4 billion stake in PepsiCo, seeing a path to revive sales

Activist investor Elliott Investment Management is taking a $4 billion stake in PepsiCo, saying there's an opportunity to revive the snack and drinks company. Years of double-digit price increases from PepsiCo and changing customer preferences has weakened demand for its drinks and snacks, the company said in February. In July PepsiCo said that it is trying to combat perceptions that its products are too expensive by expanding distribution of value brands like Chester’s and Santitas.