Elliott pressed PepsiCo to simplify its drinks portfolio by selling some brands, potentially including sparkling water maker SodaStream and Starry, a lemon-lime soda. Photo by Justin Sullivan/Getty Images/Postmedia files

PepsiCo Inc. plans to review its North American supply chain as one of a number of steps it is taking to wrap up negotiations with activist Elliott Investment Management , people familiar with the matter said.

An announcement on the moves could come as early as this week, the people said, asking not to be identified because the details haven’t been finalized.

The food and drinks company is also expected to emphasize efforts to develop new products and ways for pricing and packaging them, as well as changes to capital allocation, according to the people. PepsiCo

See Full Page