Keurig Green Mountain intends to purchase the beverage company Dr Pepper Snapple, the coffee pod-maker announced Monday. If the $18.7 billion purchase is approved by Dr Pepper Snapple shareholders, the new company — Keurig Dr Pepper — would total approximately $11 billion in annual revenue, The Associated Press reports.
The proposed merger would allow Dr Pepper Snapple shareholders to maintain a 13 percent ownership claim in Keurig Dr Pepper, as well as receive a $103.75 per-share payout on their stocks. In light of the news, Dr Pepper Snapple stock received a nearly 40 percent bump in advance of Monday morning trading.
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