Tyson offers to buy Hillshire in $6.8 bln deal

Thu May 29, 2014 8:45am EDT

May 29 (Reuters) - Tyson Foods Inc, the largest U.S. meat processor, offered to buy Hillshire Brands Co in a deal valued at $6.8 billion to expand into the breakfast food category.

Tyson said it would offer $50 per share, representing a premium of about 11 percent to Hillshire's closing on Wednesday.

The offer comes two days after Pilgrim's Pride Corp offered to buy Hillshire in an all-cash deal valued at $6.4 billion to expand its protein footprint with Hillshire's sausages and lunch meats. (Reporting by Devika Krishna Kumar in Bangalore; Editing by Saumyadeb Chakrabarty)

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