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Scott Ferguson, founder of Sachem Head Capital Management, is joining the Performance Food board as talks with US Foods continue.

The companies will evaluate regulatory issues and cost savings of a deal, according to a statement. The accord doesn’t assure a transaction will be proposed.

Following the breakup, one company will be made up of its Heinz Ketchup and other iconic condiments and boxed meals — a unit that currently generates $15.4 billion in sales.

The company is making structural changes to its teams across the U.S., interim CEO Ron Sargent said in a memo to staff on Aug. 26.

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

“Our ask of PFG is to simply work together to further understand the merits and opportunities of a potential combination,” US Foods CEO Dave Flitman said.

President Donald Trump said in a Truth Social post that Coca-Cola Co. has agreed to use cane sugar in Coke beverages sold in the U.S.

Ferrero International agreed to acquire WK Kellogg for an enterprise value of $3.1 billion, pushing the Italian family-owned candy business further into the lucrative U.S. market.

Walmart said shoppers are still spending about the same as they did a year or two ago, with a focus on food and essentials over discretionary purchases.

Dole says a proposal to curb China’s dominance of the maritime industry would have a big impact on bananas — and aggravate consumers already sensitive to higher prices at the grocery store.