Sysco shares fall premarket as company announces $29B acquisition of Jetro Restaurant Depot

Sysco Corp (NYSE:SYY) shares fell more than 6% in premarket trading after the foodservice distributor announced a definitive agreement to acquire Jetro Restaurant Depot in a transaction valued at approximately $29.1 billion. Under the terms of the deal, Jetro shareholders will receive $21.6 billion in cash and 91.5 million Sysco shares.