Sysco Corp. has issued the following statement from President and Chief Executive Officer Bill DeLaney after the U.S. District Court in the District of Columbia granted the Federal Trade Commission's request for a preliminary injunction to block Sysco's proposed merger with US Foods. DeLaney said:
"While we respect the Court's decision, we are profoundly disappointed with this outcome. We diligently pursued this transaction for nearly two years because we strongly believed the merger of Sysco and US Foods would be procompetitive and good for customers, associates and shareholders. Nevertheless, we certainly understood this outcome to be possible and have been developing plans for the business moving forward. We will take a few days to closely review the Court's ruling and assess our legal and contractual obligations, including the merits of terminating the merger agreement. This work will be conducted in close collaboration with Sysco's board of directors and the primary owners of US Foods. We will provide additional clarity in the coming days."