Sysco drops after report co to acquire Restaurant Depot for $29 billion

Shares of food distributor Sysco SYY.N down 2% at $79.90 premarket

Co is nearing a $29 billion deal to acquire catering supplier Restaurant Depot, including debt, Wall Street Journal reports

Under the deal, Restaurant Depot shareholders will receive $21.6 billion in cash and 91.5 million Sysco shares, report adds

Sysco and Restaurant Depot did not immediately respond to a Reuters request for comment

As of last close, stock down 3.6% YTD