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  "documentTitle": "PepsiCo (PEP)",
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  "presentationDate": "2013-07-01 00:00:00",
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  "notes": "The slide uses a combination of a sensitivity table for accretion/dilution and a precedent transaction table to justify a capital allocation strategy.",
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      "text": "Each half a turn of leverage adds 3%+ of accretion",
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      "text": "The June 2013 acquisition of Heinz by Berkshire Hathaway and 3G Capital demonstrates that, more than ever, smart investors are leveraging the strong / stable free cash flow generated by leading food companies to implement efficient capital structures at record low interest rates.",
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      "kind": "title",
      "text": "Recent Transaction(s) Demonstrate The Power Of Combing Prodigious Cash Flow Of Food/Beverage Companies With Prudent Leverage",
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