NEW YORK, July 10, 2018: Morgan Lewis guided Dr Pepper Snapple Group, Inc. on the closing yesterday of its announced merger with Keurig Green Mountain, Inc. and the creation of Keurig Dr Pepper (KDP). As described by KDP, the transaction creates the seventh-largest company in the US food and beverage sector and third-largest beverage company in North America, with annual revenues of approximately $11 billion.
Under the terms of the previously announced merger agreement, Dr Pepper Snapple shareholders will receive a special cash dividend of $103.75 per share, payable in US dollars, today, July 10, to shareholders of record on the July 6, 2018 record date, the trading day immediately prior to the closing date.
The Morgan Lewis team was led by partners Charles Engros, Jonathan Morris, Howard Kenny, and partner-elect James Fang.