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US: Sysco meets with FTC over US Foods merger concerns

By  |  February 12, 2015

Sysco Corp. met with the five commissioners of the Federal Trade Commission in an attempt to head off the possibility of an antitrust lawsuit to block the food distributor’s planned $3.5 billion acquisition of rival US Foods.

The FTC has been investigating the proposed merger of the nation’s two largest food distributors for more than a year.

Sysco executives in the face-to-face meetings didn’t put forward a new formal offer to divest additional assets to win approval The Wall Street Journal announced Thursday.

Sysco said last week that it wasn’t worried that a lawsuit by the FTC would break up its deal to acquire US Foods. Even if the case does go to court, the company says there is ample time to reach a closure before the merger agreement expires in September.

Full Content: The Wall Street Journal

 

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