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Investing.com -- Performance Food Group (NYSE:PFGC) stock jumped 5% following a Bloomberg News report that the company has attracted takeover interest from US Foods.
The food distributor’s shares gained after Bloomberg reported that US Foods, a major competitor in the foodservice distribution industry, has expressed interest in potentially acquiring the company.
Performance Food Group, based in Richmond, Virginia, is one of the largest food and foodservice distribution companies in the United States. The company serves independent and chain restaurants, schools, business dining locations, hospitals, and other institutions.
Neither Performance Food Group nor US Foods has officially confirmed the report. If a deal materializes, it would create a significantly larger competitor in the food distribution space, potentially challenging industry leader Sysco Corporation (NYSE:SYY).
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