The boards of directors at holding companies...

The boards of directors at holding companies for Dr Pepper and Seven-Up have tentatively agreed to merge the privately held soft-drink companies. The proposed merger is contingent on drafting a definitive agreement and obtaining regulatory approval, the companies said in a statement. The price was not disclosed. Both companies were acquired in 1986 by separate investment groups organized by Hicks & Haas, a Dallas-based investment firm. One group acquired Dr Pepper Co. for $416 million in August, 1986, and another group bought Seven Up Co. for $240 million two months later in separate transactions.