WASHINGTON (The Deal) -- A major union representing workers at Sysco Corp. (SYY_) and US Foods said Thursday the merger partners have underestimated the market share the combined company would have if their $8.2 billion combination is cleared by the Federal Trade Commission.
The Teamsters Union hosted a conference call to present its own research on the market share that Sysco and US Foods would have after a proposed merger, with attorney Donald Baker providing antitrust law commentary.
(WASHINGTON) – Today, the International Brotherhood of Teamsters warned industry analysts and investors about possible antitrust obstacles connected to the proposed merger of Sysco [NYSE: SYY] and US Foods [USF]. The merger is currently under antitrust review by the Federal Trade Commission (FTC).
Frank Rinetti, a Teamster member and employee at US Foods, recently sent a letter to the Federal Trade Commission (FTC) seeking information about the proposed Sysco-US Foods merger and he also outlines his concerns about the merger's impact on jobs.
(WASHINGTON) – On Wednesday, the Teamsters Union cautioned the Federal Trade Commission staff and state attorneys general investigating Sysco’s proposed acquisition of US Foods for antitrust issues that a merger of the top two U.S. foodservice providers could limit competition and negatively affect consumers, food suppliers, small business owners and government agencies.
On Tuesday, US Foods warehouse workers in Corona, Calif., called on the company to recognize Teamsters Local Union 63, Los Angeles, as their bargaining representative and to proceed immediately to negotiations for a first contract. The workers are concerned about job security as Sysco attempts to acquire their employer.
(Washington, D.C.) – Sysco’s acquisition of US Foods announced last week raises serious concerns for workers, stakeholders and customers as the combined company becomes the country’s largest institutional/restaurant food service provider.