Sysco prices 12.3M-share offering at $81 to fund Jetro purchase

Corporate ActionM&A · Partnership
โดย Seeking Alpha·US·Read original
Summary · why it matters

Sysco Corporation priced an offering of roughly 12.34 million shares of its common stock at $81 per share, according to a company statement on Tuesday. The company expects the offering to close September 16 and plans to use the net proceeds to finance a portion of the consideration for its pending acquisition of Jetro Restaurant Depot. Underwriters hold a 30-day option to purchase up to an additional $150 million of common stock at the same price, solely to cover overallotments. Goldman Sachs and TD Securities are lead bookrunners, with BofA Securities, J.P. Morgan Securities, and Wells Fargo Securities also serving as bookrunning managers. The stock eased 2.2% in extended trading on Monday.

Impact on stocks 5

Financials▲ · 4 stocks
Consumer Staples▼ · 1 stocks
Sysco Corporation
SYY
▼ NegativeCapitalrelevance

Sysco priced a 12.34M-share offering at $81 to fund the Jetro Restaurant Depot acquisition, diluting existing shareholders.

Off-coverage companies 2

J.P. Morgan Securities LLCPrivate± Mixed
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Jetro Restaurant DepotPrivate± Mixed
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