Tyson offers to buy Hillshire in $6.8 bln deal
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)
- Police seek motive in fatal Washington state school shooting
- U.S. nurse quarantined over Ebola criticizes her treatment |
- Two deputies killed, two others hurt in California shooting spree
- Wall St. finally turning on Amazon as Bezos magic fades
- U.S., allies stage 22 air strikes in Iraq: U.S. Central Command