Sysco Announces $1B Stock Offering; Intends To Use The Net Proceeds From The Offering To Finance A Portion Of The Consideration For Its Pending Acquisition Of Jetro Restaurant Depot
Sysco Corporation (NYSE:SYY) ("Sysco" or the "Company") today announced that it intends to make an offering of $1.0 billion of shares of its common stock (the "Offering"). Sysco’s common stock is
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Why It Matters
Sysco is selling new shares to raise $1 billion in cash. They plan to use that money to help pay for buying Jetro Restaurant Depot.
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