DE Shaw has accumulated a stake worth more than $1bn in Sysco, adding significant weight to the hedge fund’s long-standing investment in the US food distribution giant as the company seeks to accelerate growth and cut costs through AI, according to a report by Reuters.
The New York-based investment firm has held shares in Sysco for around a decade, but the scale of its current position had not previously been disclosed, according to people familiar with the matter.
The investment comes as Sysco,...
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