Activist shareholder Nelson Peltz has in recent weeks been building up stakes in PepsiCo and Oreo maker Mondelez International, Britain's Daily Telegraph reported Friday, citing sources familiar with the matter.
The newspaper said the exact size of Peltz's stakes in the two companies were unclear, but cited one source as saying that Peltz had spent at least $2 billion in a concerted buying spree.
According to a Feb.y 14 regulatory filing, Peltz's Trian Fund Management did not hold any stock in either company as of Dec. 31.
PepsiCo and Trian Fund Management were not immediately available for comment.
A spokesman for