Quaker Oats has finally accepted PepsiCo's $13.4bn all share takeover offer. Successive bidders including Coke and Danone walked away leaving Quaker to either go it alone or invite Pepsi back to the negotiating table. The cereal and Gatorade sports drink firm rejected an offer of 2.3 Pepsi shares for each Quaker share in October amid concerns the deal could drop in value if Pepsi's stock nosedived. The inclusion of a protection clause enabling Quaker to pull out if a fall in Pepsi's stock drags down Quaker's price tag was said to have encouraged Quaker's chairman Robert Morrison to reconsider. Analysts said Pepsi has once again outmanoeuvred arch rival Coke in the race to build a presence in non carbonated drinks. The deal has come just weeks after Pepsi snapped up new age beverage firm SoBe, which Coke had been eyeing. Providing the deal gains regulatory approval, Quaker chief Robert Morrison will become vice chairman of the combined company. Pepsi president Steven Reinemund will take over as chairman and chief executive from Roger Enrico. {{NEWS }}