Tyson Wins Bidding War For Hillshire Brands
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. Tyson had been vying with rival poultry producer Pilgrim’s Pride for Hillshire Brands, which ended its bidding process Sunday. Pilgrim’s Pride said Monday that it is withdrawing its offer. Still, the deal is not sealed yet. It is contingent on Hillshire abandoning its plan to acquire Pinnacle Foods Inc., which makes Birds Eye frozen vegetables and Wish-Bone salad dressings.
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