Sysco Falls on $1 Billion Stock Offering; Waystar Gains on Sale Report

Corporate ActionM&A · Partnership
โดย Investing.com·US·Read original
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Sysco shares fell 1.3% in premarket trading to $82.49 after the foodservice distributor announced late Monday a $1 billion common stock offering to help partially finance its pending acquisition of Jetro Restaurant Depot. The company priced 12.35 million shares at $81 each, a discount of roughly 3% to Monday's closing price of $83.54, with the offering expected to close on September 16 and likely to result in near-term dilution for existing shareholders. Investor concerns were also heightened by the broader financing structure of the $29.1 billion Jetro Restaurant Depot acquisition, which is being funded primarily through about $21 billion of new and hybrid debt, alongside the equity offering. Waystar shares rose 3.3% to $25.73 in premarket trading after reports that the healthcare software company is exploring strategic options, including a potential sale that could take it private again just two years after its initial public offering in 2024. EQT holds the largest stake in Waystar at 13%, followed by the Canada Pension Plan Investment Board with 10% and BlackRock with 8%.

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Sysco Corporation
SYY
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Sysco announced a $1 billion discounted stock offering to partly finance the Jetro acquisition, causing near-term dilution for existing shareholders.

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Jetro Restaurant DepotPrivate± Mixed
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