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US: Sysco pleats with FTC to save US Foods takeover

By  |  October 14, 2014

Food giant Sysco is reportedly in discussions with the Federal Trade Commission to salvage the company’s planned takeover of US Foods.

According to reports, the FTC is slated to decide on the matter by the end of the month. Media cited unnamed sources in reports of Sysco representatives attempting to save the $3.5 billion transaction, which would result in the merged company holding at least one-quarter of the North American food distribution market.

FTC Director of Competition Deborah Feinstein has already signaled that she is ready to file a lawsuit to bloc the deal unless concessions are made, say reports. The latest updates follow just weeks after separate, unnamed sources said the FTC was gearing up to block the deal.

Full content: Reuters

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