Sysco drops on $1 bln stock offering plans for Jetro Restaurant Depot acquisition

Sysco

14/09/2026 21:48

**  Food distributor Sysco Corp's SYY.N shares down 2.8% at $81.24 in extended trading after M&A-related equity raise news
** SYY announces $1 bln stock offering to finance pending acquisition of Jetro Restaurant Depot
** Houston, Texas-based SYY said in March it would buy the catering supplier in a $29 bln deal
** Goldman Sachs and TD Secs lead bookrunners for planned offering, joined by BofA, JP Morgan and Wells Fargo
** SYY has $40 bln current market cap
** SYY stock closed up 0.4% at $83.54 on Mon. Stock up ~13% YTD, outpacing 8% advance in S&P 500 Consumer Staples .SPLRCS
** Avg rating of 18 analysts is "buy"; median PT $90, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))