At the time, Sysco also announced a $3 billion share buyback. Since Sysco's fiscal calendar means the board nomination window will close next Friday, there could be three potential outcomes between now and then. Read More US judge, FTC stays Sysco merger with US Foods Firstly, there could be an agreement between the two sides over the next week. The company could extend the window to continue negotiating. Finally, there's even the possibility of a proxy fight, which sources said is not being ruled out—although Trian is said to hope that one won't be needed. It's been a busy year for Peltz: A proxy fight with DuPont, and Trian recently announced another new position in Pentair. —CNBC's Everett Rosenfeld contributed to this report.