Performance Food Group Company (PFGC) announced that the Company and US Foods (USFD) have mutually agreed to terminate the previously announced information sharing process and will no longer pursue a potential business combination between the two companies. “Following a comprehensive evaluation of regulatory considerations and synergies related to a potential business combination with US Foods, with the assistance of our independent financial and legal advisors, we have decided to terminate discussions,” said George Holm, CEO of PFG. “Our Board of Directors is unanimous in its belief that the clearest and best path to long-term stockholder values is executing our standalone strategic plan, leveraging our diverse business segments to drive consistent revenue and profit growth. The strength of our recently reported fiscal first quarter results and continued momentum supports the confidence in our ability to drive value for stockholders independently.”
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