Pepsico has agreed to buy General Cinema...

Pepsico has agreed to buy General Cinema Corp.’s bottling business for $1.75 billion in cash, the companies announced, two weeks after an earlier deal fell through. The previous deal, which carried a price tag of $1.5 billion, disintegrated after the Federal Trade Commission asked for additional details to determine whether it might violate antitrust laws. The delay prevented the sale from being completed in time for General Cinema to obtain tax deferral benefits. A Pepsico spokesman said despite the higher price tag, the new deal won’t actually cost Pepsico $250 million more because of offsetting reductions in financing costs and taxes.