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US: Rival food merger rings up $8.2B check

 |  December 9, 2013

Two rival food service firms announced plans to merge Monday, a $8.2 billion deal creating one of the largest such businesses in the industry.

Sysco Corporation will acquire US Foods to create a company headed by Sysco CEO Bill DeLaney, reports say. The new firm will have a reported annual revenue of about $65 billion.

The deal includes Sysco’s acquisition of US Foods debt, currently standing at about $4.7 billion.

The parties said they expect to close the deal in the third quarter of next year, though the merger remains subject to regulatory approval.

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