US Foods later pursued a successful Initial Public Offering (IPO) in May 2016, returning as an independent public company. 5. Summary Table Transaction Value ~$8.2 Billion Combined Sales Estimated $65 Billion Annually Market Share Impact 75% of National Broadline Distribution FTC Action Sued to Block, Feb 19, 2015 Final Outcome Terminated, June 29, 2015 Termination Fees $312.5 Million+ If you're interested, I can provide more details on: The FTC's legal arguments against the merger.
On February 19, 2015, the FTC sued to block the merger, arguing it violated antitrust laws. sysco buys us foods
In December 2013, , the largest broadline food distributor in the United States, announced a definitive agreement to acquire its largest competitor, US Foods , for approximately $8.2 billion, including assumed debt. The merger intended to create a dominant player with a 75% market share in national broadline distribution. However, the deal was terminated in June 2015 following a Federal Trade Commission (FTC) lawsuit and a subsequent federal court ruling that concluded the merger would significantly harm competition in the foodservice industry. 1. Context and Strategic Rationale US Foods later pursued a successful Initial Public