Pilgrim's Pride lines up banks for Hillshire bid: sources

June 5 Thu Jun 5, 2014 2:36pm EDT

June 5 (Reuters) - Pilgrim's Pride Corp, the second largest U.S. chicken processor, has lined up a number of banks to help finance its offer for Hillshire Brands Co as it escalates its bidding war with Jimmy Dean sausage maker Tyson Foods Inc, according to people familiar with the matter.

Pilgrim's Pride, which is majority owned by Brazilian meat processing company JBS S.A., has lined up banks including Barclays PLC, Bank of Montreal, Rabobank and Wells Fargo & Co to finance a potential bid, the people said.

Pilgrim's Pride and the banks declined to comment. The people declined to be named because the matter is private. (Reporting by Olivia Oran and Mariana Santibanez of IFR in New York; Editing by Chris Reese)

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