Sysco Corp

SYY: XNYS (USA)
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Sysco: Market Winces at Acquisition of Jetro Restaurant Depot, but We Think It May Be Overreacting

On March 30, Sysco announced the acquisition of privately held Jetro Restaurant Depot, the largest US cash-and-carry food distributor, for $29.1 billion based on Sysco's preannouncement share price of $81.80. The deal consists of $21.6 billion in cash and 91.5 million shares.

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