Sysco Pulling out of US Foods Buyout After FTC Move

June 29, 2015 12:33 PM

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Sysco is scrapping its proposed $3.5 billion buyout of US Foods after a Federal Trade Commission legal victory that temporarily blocked the deal to combine the two food-service companies.

The FTC opposed the deal, saying it would reduce competition. The U.S. District Court in Washington, D.C., granted the halt on Tuesday.

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