The transaction is valued at approximately $1.4 billion. PFG is being merged with a wholly owned subsidiary of Vistar Corp., a leading specialty foodservice distributor controlled by affiliates of Blackstone and Wellspring. The newly combined company, known as Performance Food Group, is expected to have revenues approaching $10 billion and more than 10,000 associates.
Under the terms of the merger agreement, PFG shareholders will receive $34.50 in cash for each outstanding share of PFG common stock held as of 4 PM (EDT) on May 23. As a result of the merger, PFG
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