Sysco Corp. (SYY) agreed to acquire closely held US Foods for $3.5 billion, adding brands from Cattleman’s meat to Devonshire desserts, in the largest food-distribution deal in eight years in North America. The shares jumped the most since at least 1980.
Sysco will pay $3 billion in common stock and $500 million in cash for US Foods to owners including KKR & Co. and Clayton, Dubilier & Rice LLC, according to a statement today. Bonds of US Foods soared to a record. Continue reading “Sysco to Acquire US Foods for $3.5 Billion”

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