Legislative, Regulatory & Legal

PepsiCo and The Quaker Oats Company said today they have received unconditional clearance from the Federal Trade Commission to merge. With the last remaining regulatory hurdle to the transaction removed, they intend to complete the transaction within the next several business days.

A diverse group of antitrust experts, national consumer organizations and major farm groups have joined forces to announce their opposition to Nestle's $10.1 billion merger with Ralston Purina. If regulators approve the deal, Swiss-based Nestle would become the world's biggest pet food company and control roughly 45 percent of the $7 billion U.S. pet food market.

(Reuters) - Chiquita Brands International Inc., the No. 1 banana producer, on Tuesday reported a second-quarter loss due to weak European currencies, higher production costs and lower canned vegetable prices.