BEDFORD, N.Y. -- Activist investor Nelson Peltz is now the biggest shareholder in the food service company Sysco after buying a $1.6 billion stake in it, according to a story in The New York Times.
Peltz’s hedge fund, Trian Fund Management, purchased a 7.1 percent stake in the company, according to a filing made Friday with the Securities and Exchange Commission, the story said.
This year, Sysco halted a planned $3.5 billion takeover of US Foods after a ruling by a U.S. federal judge halted the merger on grounds it would lead to higher prices and worse service for its customers, the story said. Instead, it announced plans to buy back $3 billion worth of shares, the story said.
Read the full story here .
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