Finance History|11 Wall Street — DPS Stopped and a Combined Book Printed KDP
· 2018-7
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Finance History|11 Wall Street — DPS Stopped and a Combined Book Printed KDP
kevin
People treat Keurig Dr Pepper as a Burlington and Plano beverage house that always printed KDP after a finished New York book.
The surviving listed issuer was Dr Pepper Snapple Group, Inc., a Delaware company incorporated on 24 October 2007 that had traded on this exchange as DPS.
Keurig Dr Pepper's own 9 July 2018 notice said the merger of Keurig Green Mountain into that issuer closed that day and that the combined company would trade as KDP.
The same notice said KDP common would begin trading on the New York Stock Exchange on 10 July 2018.
Dr Pepper Snapple shareholders received a special cash dividend of 103.75 U.S. dollars a share in 2018 dollars, payable 10 July 2018 to holders of record on 6 July 2018, and kept a minority stake in the combined book.
An options-clearing memo dated 9 July 2018 recorded the name and ticker change from DPS to KDP for the session of 10 July 2018.
In September 2020 the same letters left this exchange for the Nasdaq Stock Market and kept printing KDP.
The letters KDP still open on Nasdaq.
The mechanism is a reverse-triangular merger in which the listed soft-drink book survives, drops DPS, takes a private coffee maker inside, and opens under new letters without a second common listing.
The pin is the Broad Street facade of the Exchange on the morning the combined book printed KDP.
Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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