KKR are investors who buy dilapidated companies, fix them up and...

KKR are investors who buy dilapidated companies, fix them up and sell them at a profit. So you can see why they want PBG. Most of the public companies they buy are privatized.

Another reason is because KKR own Seven Media, Sealy, Academy Sports, etc. See here.

So there are synergies that could reduce costs and increase sales. An advertising deal with Seven could sell a lot more clothing products and promote their brands. Good for both Seven and PBG.

So I'd say PBG management will want the takeover to go ahead and the discussions are only about their salary package and job security.

I tend to agree with eucser. KKR will quadruple its money on PBG and the shareholders who have supported PBG through the years will be left holding the can.

But unfortunately, unless there is a competing bidder there is not much you can do about it.