KKR Fresh Divests Stake In US Foods Holding; Company Repurchases $150M Stock
Portfolio Pulse from Shivani Kumaresan
US Foods Holding Corp (NYSE:USFD) has priced a secondary offering of 17.4 million shares by KKR Fresh Holdings L.P. at $39.90 per share, a 3.7% discount to the company's closing price on May 22. US Foods will repurchase about $150 million shares being offered in the offering. Upon closing, KKR Fresh will no longer own any common stock or Series A Convertible Preferred Stock of US Foods.
May 23, 2023 | 4:05 pm
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US Foods prices secondary offering of 17.4 million shares by KKR Fresh at $39.90 per share, a 3.7% discount. The company will repurchase $150 million shares being offered.
The secondary offering is priced at a 3.7% discount to the company's closing price on May 22, which may put downward pressure on the stock price. Additionally, KKR Fresh divesting its entire stake in US Foods could be perceived negatively by the market, further impacting the stock price. However, US Foods repurchasing $150 million shares may provide some support to the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100