Will Relational Investors Use Its New Pepsi Stake To Push For A Spin?

We previously wrote about chatter that Pepsi(PEP) might spin off its Frito-Lay snack division, and Pepsi’s subsequent decision not to.  But that was before Relational Partners got involved.  The firm disclosed that it had accumulated .6% of the company.  The company confirmed that “the company had ‘constructive meetings’ with the hedge fund and called Relational a ‘respected institution.'”

While a .6% stake is certainly not enough to singlehandedly force change, it sounds as though the company is receptive to Relational’s concerns(though we don’t know what those are). Perhaps we will soon see a standalone Frito-Lay, on its own, in the world.

Disclosure: The author holds no position in any stock mentioned