Tyson Moves Forward With Acquisition Of Hillshire BrandsTyson Foods Inc. has signed a definitive deal to purchase Chicago-based Hillshire Brands Co. for $7.75 billion, two days after the maker of Jimmy Dean sausages and Ball Park hot dogs was let out of its agreement to buy Pinnacle Foods.
Tyson Wins Bidding War For Hillshire With $7.75B OfferTyson had been vying with rival poultry producer Pilgrim's Pride for Hillshire, which wrapped up its bidding process Sunday. Tyson ended up raising its offer to $63 per share. It had previously offered $50 per share, after which Pilgrim's Pride raised its bid to $55 per share.
Hillshire To Talk With Tyson, Pilgrim's PrideTakeover bids by Pilgrim's Pride and Tyson Foods are being driven by the desirability of brand-name processed products like Jimmy Dean breakfast sandwiches.
Tyson Offers To Buy Hillshire Brands For $6.2BTwo days after poultry producer Pilgrim's Pride made a $5.58 billion bid for the maker of Ball Park hot dogs and Jimmy Dean sausages, Tyson Foods Co. barged in with a $6.2 billion offer.