June 9 Tyson Foods Inc said it reached a
"unilaterally binding offer" to buy Hillshire Brands Co
for $8.55 billion, including debt, beating out Pilgrim's Pride
Corp for the maker of Jimmy Dean sausages.
Tyson's increased offer of $63 per share represents a
premium of nearly 7 percent to Hillshire's Friday closing price
Tyson, the world's second largest meat processor after
Brazil's JBS SA, had earlier offered $50 per share,
which valued Hillshire at $6.8 billion, including $500 million
Pilgrim's Pride, majority owned by JBS, raised its offer to
$55 per share last week from $45 per share, valuing Hillshire at
$7.7 billion, including debt.
(Reporting by Devika Krishna Kumar in Bangalore; Editing by