Sysco just announced a $29.1 billion acquisition and Wall Street is nervous. Can a 3% dividend sweeten the deal?
Sysco (SYY) just made its biggest bet in years. On March 30, the largest U.S. foodservice distributor announced its $29.1 billion acquisition of Jetro Restaurant Depot, propelling it into the high-margin cash-and-carry channel serving smaller independent operators. The deal instantly boosts Sysco’s scale, but has sparked a sharp sell-off. SYY shares plunged 15% intraday on…