Tyson wins bid war for Hillshire with $7.75B offer
Source: AP-EXCITE
NEW YORK (AP) Meat producer Tyson Foods Inc. has won a bidding war for Hillshire Brands, the maker of Jimmy Dean sausages and Ball Park hot dogs, with a $63 per share offer.
Both Tyson and Pilgrim's Pride had been bidding of Hillshire Brands. Tyson had previously offered $50 per share for the company. Pilgrim's Pride then raised its bid to $55 per share. Pilgrim's Pride says it is withdrawing its offer.
The offer from Tyson is worth $7.75 billion based on Hillshire's 123 million shares outstanding. Tyson values the deal at $8.55 billion, including debt.
FULL story at link.
Read more: http://apnews.excite.com/article/20140609/us-tyson-hillshire-6d64e41f91.html
yeoman6987
(14,449 posts)Tyson made a good deal if it was valued at 8.55 billion and they got it for 7.75 billion or am I reading this wrong?
cosmicone
(11,014 posts)and assuming liabilities of $800 million. Cash + debt = $8.55 billion on the books.
yeoman6987
(14,449 posts)Auggie
(31,186 posts)rurallib
(62,448 posts)where oh where is the justice department to stop this trend to monopoly?
davidpdx
(22,000 posts)I liked the Hillshire smoked sausage, but don't trust Tyson worth a rat's ass. They carry them at Costco (and a few other places) here in Korea. Needless to say I won't be buying that product anymore.