Food Retail & Distribution

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Kroger Co announces retirement of President and COO Mike Ellis

9:30am EDT

Kroger Co:Announces retirement of President and COO mike ellis.Says Ellis' successor will be named at a later date.

Sysco Corp terminates merger agreement with US foods

Monday, 29 Jun 2015 08:00am EDT

Sysco Corp:Terminates merger agreement with US foods.Says termination of transaction requires Sysco to pay break-up fees of $300 million to US foods and $12.5 million to pfg.Under terms of the merger agreement, the termination of the transaction requires Sysco to pay break-up fees of $300 million to US foods.Says share repurchases will be in addition to the amount normally purchased to offset benefit plans and stock option dilution.Action also terminates an agreement with performance food group (pfg) to purchase US foods facilities in 11 markets.Says intends to fund these purchases from new borrowings and cash flow from operation.Sysco's board of directors has authorized the company to spend an additional $3 billion to buy back shares.Says intent is to repurchase approximately $1.5 billion in shares in each of the next two years.Share repurchases will be in addition to the amount normally purchased to offset benefit plans and stock option dilution.Says expects to put in place an accelerated share repurchase program.Says Sysco will continue to assess the merits of repurchasing shares over time.Will begin process of redeeming $5 billion of merger-related debt under mandatory redemption provisions contained within notes.Process of redeeming merger-related debt is expected to take no more than 40 days.Believed the merger was the right strategic decision for US, and we are disappointed that it did not come to fruition.

IVS Group SA buys 25 percent stake in CSH Srl for 2.4 million euros

Friday, 26 Jun 2015 01:56pm EDT

IVS Group SA:Acquires minority 25 percent stake in CSH Srl for 2.4 million euros.The operation brings the company's stake in CSH Srl to 100 percent.CSH Srl controls the Coinservice division, already fully consolidated in IVS Group accounts.

The Kroger Co raises quarterly dividend

Thursday, 25 Jun 2015 11:32am EDT

The Kroger Co:Raises quarterly dividend 13.5 percent.Says board raised the quarterly dividend to 21 cents per share on a pre-split basis.Says board approves 2-for-1 stock split and $500 million share repurchase program.Says it is not expected that any purchases will be made under new board-authorized share repurchase plan for remainder of fiscal 2015.

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Analyst Research

Report Title Price
Provider: Bohai Securities Co.,Ltd.
$92.00
Provider: Wright Reports
$75.00
Provider: Wright Reports
$35.00
Provider: GlobalData
$125.00
Provider: GlobalData
$125.00

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