News

US Foods, Sysco merger hits FTC speed bump

February 19, 2014

US Foods announced that it received a request from the Federal Trade Commission for additional information and documentary materials in connection with its pending merger with Sysco Corporation. The request was issued under notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

According to a news release, the process is frequently referred to as a "second request," and is a part of the FTC review process that was anticipated by both companies. US Foods will work to respond to the FTC requests as quickly as possible to support the review of the proposed merger, the release said.

Completion of the transaction remains subject to regulatory review, including the expiration or termination of the waiting period under the HSR Act, and other customary closing conditions. US Foods' outlook on the merger remains unchanged and expects the transaction to close in Q3 2014.