Sysco lands US Foods in large foodservice merger

|About: Sysco Corporation (SYY)|By:, SA News Editor

Sysco (SYY) buys U.S. Foods in a deal that has a total enterprise value of close to $8.2B inclusive of the assumption of debt.

After the merger closes, US Foods shareholders will hold approximately 87M shares of Sysco.

The new combined company expects to realize annual synergies of $600M.

The deal is slated to close in Q3 of 2014.

SYY +10.2% premarket.