Sysco drops on $29 billion deal for Jetro Restaurant Depot

Shares of food distributor Sysco SYY.N down 2% at $80.31 premarket

Co to buy catering supplier Jetro Restaurant Depot in a $29  billion deal, including debt

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

Co to fund the deal through $21 billion of new and hybrid debt, along with $1 billion of cash and equity on hand

SYY reaffirms its annual sales growth in the range of 3% to 5% and adjusted EPS to be at the high end of $4.50 to $4.60

As of last close, stock down 3.6% YTD