Sysco Terminates Merger Agreement with US Foods | Fox Business

Sysco Corp. (SYY) said Monday it is walking away from its planned acquisition of US Foods Inc. after a federal judge issued a preliminary injunction against the deal last week.

The deal, announced in December 2013, would have combined the nation’s two largest food distributors, which provide ingredients and a range of other supplies to restaurants, hotels, schools and other food-service operations.

Sysco shares added 1.6% in premarket trading.

Sysco said it will pay US Foods a breakup fee of $300 million. The company also said it will spend another $3 billion buying back shares over the next two years and will redeem $5 billion in merger-related debt.

The Federal Trade Commission filed a lawsuit in February challenging the transaction on antitrust grounds.

Sysco Terminates Merger Agreement with US Foods | Fox Business.


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Rocktographer(Live Music Photographer), Motorsports & Beach Sports Photographer, based in Las Vegas & the Beach Cities in California; Website Developer, Food & Drink Photographer, Enthusiast and Critic with No-Sugar-Coating Reviews, Sports Handicapper, etc. No longer on Facebook, due to being discriminated against for using Fake Names, unlike the 'Drag Queens' of the GLBT Community that are allowed to do so. I urge everyone that reads this to leave Facebook for easier use at ( ) & ( )

Posted on June 29, 2015, in Uncategorized and tagged , , , , , , . Bookmark the permalink. Leave a comment.

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