Sysco terminates merger agreement with US Foods

Sysco Corp. announced it terminated its merger agreement with US Foods, following an unfavorable court ruling last week, according to MarketWatch.

The U.S. District Court in Washington, D.C., granted the Federal Trade Commission's request for an injunction to block the deal.

Sysco also will no longer work with Performance Food Group to buy US Foods facilities in 11 markets.

The company will pay breakup fees of $300 million to US Foods and $12.5 million to Performance Food Group.

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