June 9, 2014 / 12:35 AM / 4 years ago

Tyson wins bidding war for Hillshire over Pilgrim's Pride -source

June 8 (Reuters) - Tyson Foods Inc has prevailed over Pilgrim’s Pride Corp in a bidding war for Jimmy Dean sausage maker Hillshire Brands Co, according to a person familiar with the matter.

The amount of Tyson’s bid could not be immediately learned.

Pilgrim’s Pride, which is majority owned by Brazilian meat processing company JBS S.A., had offered $55 per share for Hillshire which valued the company at $7.7 billion including debt.

Bloomberg News earlier reported that Tyson had beat out Pilgrim’s Pride.

Hillshire, Pilgrim’s Pride and Tyson could not be immediately reached for comment. (Reporting by Olivia Oran; Editing by Nick Zieminski)

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