Sysco Stock Price Rebounds Despite Merger Ruling - Investors Like Certainty
SEAFOODNEWS.COM [Nation's Restaurant News] By Jonathan Maze - June 29, 2015 -
After a federal judge ruled Tuesday to delay a proposed merger between Sysco Corp. and US Foods, the immediate speculation was that Wall Street would react badly.
The decision is widely expected to kill a deal that Sysco has spent 18 months and hundreds of millions of dollars fighting to preserve. Sysco’s dream of combining the two largest food distributors in the country could be dashed.
But instead, a funny thing happened: Sysco’s stock rose 3.1 percent Wednesday. Indeed, the stock is at its highest level in months.
It seems Wall Street’s desire for certainty outweighs its view on the potential end of the deal.
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