Sysco (SYY) Plans $1 Billion Common Stock Offering

Sysco (NYSE:SYY) announced a US$1b common stock offering to finance its planned acquisition of Jetro Restaurant Depot. The equity raise is scheduled to close ahead of the Jetro Restaurant Depot deal and is not contingent on the transaction completing. Management said proceeds from the US$1b stock sale will be used primarily to support the Jetro Restaurant Depot purchase and related costs. The US$1b common stock financing for the Jetro Restaurant Depot acquisition reshapes Sysco's funding mix...