Report: Sysco Poised to Complete US Foods Deal

Mega-distributor Sysco Corp. is poised to complete its previously announced merger with its largest rival, US Foods, but at the cost of selling assets worth around $5 billion to another competitor, Performance Food Group, in order to satisfy regulators, reports the New York Post. The Sysco/US Foods merger had been announced a year ago and has been trying to clear regulatory hurdles with the Federal Trade Commission ever since because of concerns that the deal would stifle competition, particularly in the school market. The deal with PFG would set that company up as Sysco's only potential national competitor.