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US firms quick at cutting deals with activists

Latest involves Sysco granting board seats to Trian Fund

AVOIDING DISRUPTION: For Sysco, it was better to reach a quick agreement with Trian Fund, the activist hedge fund, than risk a drawn-out battle.

New York

EARLY in August, a call came into Sysco Corp from Trian Fund Management LP, warning the food distributor that the activist hedge fund was about to disclose a large stake in the company.

Trian, run by veteran investor Nelson Peltz, unveiled its 7.1 per cent stake in Sysco