US Stock Market Move | Performance Food Group (PFGC.US) rose nearly 8% in pre-market trading amid reports that US Foods Holding Corp. (USFD.US) is interested in acquiring it.

According to informed sources, Performance Food Group company (PFGC.US) has attracted acquisition interest from US Foods Holding Corp. company (USFD.US). If the deal goes through, it will create a food distribution company with total sales approaching 100 billion dollars. Thanks to this news, as of the time of writing, Performance Food's stock rose nearly 8% in pre-market trading. According to sources familiar with the matter, the Illinois-based US Foods company has been evaluating the acquisition of Performance Food company and has expressed intentions for a possible merger in recent months. These sources requested anonymity because the information is confidential. US Foods Holding Corp. company's stock has risen by over 50% in the past 12 months, bringing the company's market value to 18.6 billion dollars. Meanwhile, Performance Food's market value is 14.1 billion dollars. US Foods Holding Corp. company provides food services to restaurants, hospitals, schools, and hotels, with last year's revenue reaching 37.9 billion dollars. According to its website, the company has around 30,000 employees in over 70 locations. Performance Food also provides similar services in the US and Canada, with its business covering three sectors: foodservice supplier "Performance Foodservice", candy and snack distributor "Vistar", and its convenience store-focused "Core-Mark" business. Any transaction between the two companies could face regulatory scrutiny. In 2015, Sysco planned to acquire US Foods Holding Corp. for 3.5 billion dollars, but the deal was halted by a federal judge who stated that the merger of the two food distribution giants could likely weaken market competition. The following year, US Foods Holding Corp. went public under its current name.