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US Foods Posting Steep Loss In Late-Day Trading

Shares of US Foods (USFD) have moved sharply lower during trading on Monday, plunging by 17.3 percent. With the drop US Foods has fallen to its lowest intraday level in over two months.

The steep drop by US Foods comes after the food distribution company announced an agreement to acquire five operating companies collectively known as SGA's Food Group of Companies for $1.8 billion in cash.

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