(RTTNews) - Sysco Corporation (SYY), a food company, Monday announced that it intends to offer $1 billion of its common stock. It plans to use the net proceeds from the offering to finance a portion of the consideration for its pending acquisition of Jetro Restaurant Depot and this offering is not contingent on the closing of the acquisition. The company plans to grant the underwriters of the offering a 30-day option to purchase up to an additional $150 million of shares of common stock, for the sole purpose of covering over allotments. Further, the company also announced that it is pricing its previously intimated public offering of 12,345,679 shares of its common stock at a price of $81 per share.
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