RTTNews | May 18, 2021 07:25AM EDT

07:25 Tuesday, May 18, 2021 (RTTNews.com) - Performance Food Group Co. (PFGC) announced Tuesday its agreement to acquire Core-Mark Holding Co., Inc. (CORE) in around $2.5 billion stock and cash transaction, including Core-Mark's net debt.

Under the deal terms, Core-Mark shareholders will receive $23.875 per share in cash and 0.44 PFG shares for each Core-Mark share.

The transaction is expected to close in the first half of calendar 2022, subject to U.S. federal antitrust clearance, Core-Mark shareholder approval, and other customary closing conditions. The transaction is not subject to PFG shareholder approval.

The deal has been unanimously approved by the Board of Directors of each company. Upon closing of the transaction, Core-Mark shareholders will own approximately 13% of the combined company.

Core-Mark expects to continue paying its current quarterly dividend through the completion of the transaction.

The deal will create a convenience business within PFG's Vistar segment that will include the Core-Mark and Eby-Brown businesses.

Read the original article on RTTNews ( https://www.rttnews.com/3195650/performance-food-group-to-buy-core-mark-in-2-5-bln-stock-cash-deal-quick-facts.aspx)

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