American Airlines Group Inc., formed today when AMR Corp. and US Airways Group Inc. combined, is poised to rise on confidence that the world’s largest carrier can avoid the pitfalls that dragged down other mergers.
Sysco Corp. agreed to acquire closely held US Foods for $3.5 billion, adding brands from Cattleman’s meat to Devonshire desserts, in the largest food-distribution deal in eight years in North America. The shares jumped the most in 2 1/2 years.
Doug Parker, poised to lead the new American Airlines Group Inc., wants to beat a $1 billion goal for added revenue and savings in the AMR Corp.-US Airways Group Inc. merger and is about to start meshing frequent-flier plans.
American Airlines Inc. is seeking to reduce the cost of a $1.9 billion term loan after last week winning bankruptcy court approval of the deal it reached with regulators to complete its merger with US Airways Group Inc., according to a person with knowledge of the transaction.