Performance Food Board Saw ‘No Basis’ to Engage With US Foods

Performance Food Group Co.’s board determined there was “no basis” to engage with US Foods Holding Corp. after its rival requested that it share information for a potential merger, according to its chief executive officer.

“Taking into consideration associated risks including regulatory, synergy and integration risks, after careful consideration, the PFG board determined that there was no basis to engage in the information sharing requested by US Foods,” Performance Food CEO George Holm said in a call with analysts Wednesday to discuss the company’s fiscal year results.

Last week, US Foods urged Performance Food to accept its invitation to ...