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Shares of Sysco failed to hold all-time highs Monday after reporting earnings and its view on the impact of the U.K. vote to leave the European Union.
The food marketer and distributor recently agreed to acquire the U.K.-based food distributor Brakes in a transaction valued about $3.1 billion. Amid the uncertainty around the implications of Brexit, "we've seen some softening there in that market," CEO Bill DeLaney said in a Dow Jones report late Monday morning.
Sysco closed 3 cents lower at $52.18 a share. Earlier, the stock spiked more than 3 percent to hit $53.97, its highest going back to its initial public offering in 1970 after reporting earnings that topped expectations.