Last updated on June 13th, 2024 at 05:24 pm
A US Foods executive told a federal court judge in a hearing earlier this week that US Foods could walk away from its merger with Sysco if a judge further delays the deal with a court injunction.
David Schreibman, VP of strategy at US Foods, said the company isn’t willing to endure additional lengthy periods of uncertainty while engaging in a protracted legal fight with U.S. antitrust enforcers.
The Federal Trade Commission has blocked the deal and wants federal Judge Amit Mehta to continue to block the deal with a preliminary injunction. On Monday, representatives from US Foods and Sysco gave testimony attempting to rebut the FTC’s case against the deal, which would combine the nation’s top two food service distributors.
The FTC has argued the merger would leave national and small food service customers with fewer distribution choices and vulnerable to higher prices and reduced service.
