Tyson Foods, Inc. (NYSE:TSN) has apparently prevailed over Pilgrim’s Pride Corporation (NASDAQ:PPC) by offering to buy Hillshire Brands Co (NYSE:HSH) for $8.55 billion, including debt.
Tyson Foods’ offering represents a premium of nearly 7% to Hillshire Brands’ closing price on Friday.
Tyson Foods tops Pilgrim’s offer
Last week, poultry producer Pilgrim Pride offered to purchase Hillshire Brands Co (NYSE:HSH) for $45 per share in a $6.4 billion cash offer to acquire wider product diversification in the grocery arena.
Interestingly, last week’s offer turned Hillshire from hunter to hunted. Setup a free account to get access to this article (no credit card required).Login required to continue reading.
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