May 29, 2014 / 12:45 PM / 3 years ago

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)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below