Sysco Receives Request For Addl Information From FTC On Proposed US Foods Merger

(RTTNews) - Sysco Corp. (SYY) said Tuesday that it has received a request for additional information and documentary materials from the Federal Trade Commission in connection with Sysco's pending merger with US Foods.

The request was issued under notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

Frequently referred to as a "second request," this is a standard part of the FTC review process and was anticipated by Sysco.

Sysco said it will continue to work closely and cooperatively with the FTC as it conducts its review of the proposed merger.

Completion of the deal remains subject to regulatory review, including the expiration or termination of the waiting period under the HSR Act, and other customary closing conditions.

Sysco's outlook on the deal, and the likely timing for closing in the third quarter of calendar 2014, remains unchanged.

In December, Sysco agreed to buy US Foods for about $3.5 billion in cash and stock. Sysco will also refinance US Foods' net debt of about $4.7 billion, bringing the total enterprise value of the deal to $8.2 billion.