Performance Food Group

PFGC

Market cap $15.8B

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US Foods has long had its eye on rival Performance Food , arguing a potential tie-up between the nation's No. 2 and No. 3 food service distributors could lead to more growth, challenge industry leader Sysco and cut costs for consumers.

Activist investor Scott Ferguson is joining the board of Performance Food Group , the company said on Tuesday, at a time the hedge fund is urging the food distributor to consider merging with rival US Foods Holding.

RICHMOND, Va.--(BUSINESS WIRE)--Performance Food Group Company (“PFG” or the “Company”) (NYSE: PFGC) today announced the appointment of Scott Ferguson, Founder and Managing Partner of Sachem Head Capital Management LP (“Sachem Head”), to its Board of Directors (the “Board”), effective immediately. Manuel Fernandez, Lead Independent Director of the PFG Board, said, “Scott's appointment reflects a shared commitment to PFG's continued success and to enhancing stockholder value. He brings important.

Performance Food (PFGC) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock suggests that there could be more strength down the road.

RICHMOND, Va.--(BUSINESS WIRE)--Performance Food Group Company (“PFG” or the “Company”) (NYSE: PFGC) today announced that it has entered into a clean team agreement with US Foods Holding Corp. (“US Foods”) (NYSE: USFD) that enables the companies to share information in order to evaluate regulatory considerations and the synergies related to a potential business combination. In recent weeks, members of the PFG Board and management team engaged with several of PFG's large stockholders to hear the.

ROSEMONT, Ill.--(BUSINESS WIRE)--US Foods Holding Corp. (NYSE: USFD) (“US Foods”) today announced that the Company will exchange confidential information with Performance Food Group (NYSE: PFGC) (“PFG”) pursuant to a mutually agreed clean team process. US Foods is pleased with PFG's decision to engage in an effort to explore the regulatory considerations and synergies of a potential combination. There can be no assurance that this information sharing will result in any transaction proposal, or.

While there is an opportunity to improve Performance Food's profitability, the main catalyst here is a potential merger with US Foods.

RICHMOND, Va.--(BUSINESS WIRE)--Performance Food Group discloses receipt of Sachem Head nomination letter.

Performance Food Group Company PFGC posted better-than-expected results for the fourth quarter on Wednesday.