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Home / Business / Tyson Makes Offer for Hillshire to Trump Pilgrim’s
Tyson Makes Offer for Hillshire to Trump Pilgrim’s

Tyson Makes Offer for Hillshire to Trump Pilgrim’s

Tyson Foods Inc. (TSN), a second-largest
U.S. pig producer, done an unsolicited $6.8 billion offer to
buy Hillshire Brands Co., trumping a competing bid from
Pilgrim’s Pride Corp. (PPC)

Tyson is charity $50 a share, representing a understanding premium
of 35 percent, a Springdale, Arkansas-based association pronounced today
in a statement. It pronounced it has financing for a takeover arranged
with Morgan Stanley. Tyson also pronounced a offer is theme to
Hillshire terminating an agreement to buy Pinnacle Foods Inc.

Tyson, led by Chief Executive Officer Donnie Smith, is
looking to enhance serve into branded, value-added packaged
foods that have wider margins and some-more fast gain compared
with a normal commodity beef business.

Morgan Stanley and JPMorgan Chase Co. are behaving as
financial advisors to Tyson and Davis Polk Wardwell LLP is its
legal counsel.

To hit a contributor on this story:
Simon Casey in New York at
scasey4@bloomberg.net

To hit a editor obliged for this story:
Simon Casey at
scasey4@bloomberg.net

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