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ringorango

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US Foods sets terms for billion dollar IPO

May 13 2016, 11:09 ET | About: US Foods Holding (USFD) | By: Clark Schultz, SA News Editor [mail_icon]
 

US Foods (Pending:USFD) plans to sell 44.4M shares in a price range of $21 to $24 in its public launch.

The company will raise $999M at the mid-point of the range.

US Foods is one of the two dominant players in the food distribution industry along with Sysco (NYSE:SYY) and offers more than 400K fresh, frozen, and dry food SKUs and non-food items. Revenue for FY15 was a cool $23.13B.
Revenue less than half of SYSCO

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broadliner

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And when is this momentous event supposed to take place? After the next strike?
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DMT

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After the company folds?
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The Gambler

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What a complete joke
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The Gambler

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What's next a new scoop item?


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laser

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It appears to be May 23, a week from this Monday. I guess we will see if that happens. This not my prediction, just what my understanding of what the company has said. 


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SoCalFoodDude

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Part of the money raised will be to hire an outplacement company to help people find a job when the IPO tanks and KKR/CD&R sells USF.
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SoCalFoodDude

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The newest Scoop items will be a complete line of ready-to-serve foods to take the place of kitchen employees when minimum wage goes to $15/hr.

Quote:
Originally Posted by The Gambler
What's next a new scoop item?
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Dawghause

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Reply with quote  #9 
The phase "lipstick on a pig" comes to mind.  Did Sysco make a "fake" buyout in order to force KKR to unload US?  The idea is mind blowing.
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DMT

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@ Dawghouse-We here at usf La Mirada felt that the only reason the offer was made was to peek into the customers lists and Navy, Disney, and other regional chain contracts!!
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Investigator

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Quote:
Originally Posted by DMT
@ Dawghouse-We here at usf La Mirada felt that the only reason the offer was made was to peek into the customers lists and Navy, Disney, and other regional chain contracts!!


$300 million to peek at a customer list? Brilliant analysis DMT
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broadliner

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Investigator, there were a bunch of people at USF corporate hoping that the merger would go through. Jon Lederer would have gotten a $12 million golden parachute! He is so pissed that he has to get another job somewhere. Other officers would have gotten similar packages.
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DMT

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@ Instigator- Yes! A peek at the customer lists nationwide would be critical for upcoming bids for contracts! $300 million would be chump change in comparison to billions over the next few years Sysco would pull in if they won said bids at national levels! Obviously everyone ignores you around the water cooler or this wouldn't be new to you...
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Quote:
Originally Posted by DMT
@ Instigator- Yes! A peek at the customer lists nationwide would be critical for upcoming bids for contracts! $300 million would be chump change in comparison to billions over the next few years Sysco would pull in if they won said bids at national levels! Obviously everyone ignores you around the water cooler or this wouldn't be new to you...


Uh huh, sure. You forget the FTC brought suit against the merger and won in court to kill the merger. Sysco did not back out. The court ruling cost Sysco another $8 million in legal fees  plus lets not forget the unpublished cost of the financial firms and accounting firms involved in the proposed merger.

Sysco did not kill the deal. I'm sure USF has national contracts coveted by Sysco but to suggest they would engage in a hoax (requiring a conspiracy-- and lets not forget  conspiracies don't really exist) costing upwards of $320-$330 million just to see "prices" is beyond stupid. Furthermore USF could sue Sysco if they used any information gleaned during the merger period to steal their business.









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Drew2569

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US Foods Holding (USFD) Announces May 26th IPO

May 13th, 2016 - 0 comments - Filed Under - by Stacy Sanders

 

US Foods Holding (USFD) expects to raise $999 million in an IPO on Thursday, May 26th. The company will be issuing 44,400,000 shares at $21.00-$24.00 per share.

In the last 12 months, US Foods Holding generated $23.2 billion in revenue and $174 million in net income. US Foods Holding has a market-cap of $4.8 billion.

Goldman Sachs, Morgan Stanley and J.P. Morgan served as the underwriters for the IPO and BofA Merrill Lynch, Citigroup, Credit Suisse, Deutsche Bank Securities, Wells Fargo Securities, KKR, BMO Capital Markets, Guggenheim Securities, ING, Rabo Securities and Natixis were co-managers.

US Foods Holding provided the following description of their company for its IPO: “We are among America’s great food companies and one of only two foodservice distributors with a national footprint in the United States. We supply over 250,000 customer locations nationwide. They include independently owned single and multi-unit restaurants, regional restaurant concepts, national restaurant chains, hospitals, nursing homes, hotels and motels, country clubs, government and military organizations, colleges and universities, and retail locations. We provide over 400,000 fresh, frozen, and dry food stock-keeping units, as well as non-food items, sourced from over 5,000 suppliers. “.

US Foods Holding was founded in 1853 and has 25000 employees. The company is located at 9399 W. Higgins Road, Suite 500, Rosemont, IL 60018, US and can be reached via phone at (847) 720-8000 or on the web at http://www.usfoods.com.

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broadliner

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Reply with quote  #16 
Did they finally put enough lipstick on this pig?
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