Tyson Wins Bidding War For Hillshire Over Pilgrim’s Pride
Tyson Foods won the bidding war for Hillshire Brands Co with an all-cash offer that values the maker of Jimmy Dean sausages at $8.55 billion and would be the biggest deal yet for the global meat business. Tyson, the largest U.S. meat processor, on Monday announced an agreement to buy Hillshire for $63 per share. That topped last week’s $55 bid from Pilgrim’s Pride Corp , which is majority owned by Brazilian meatpacking giant JBS SA. Investors cheered the final deal, sending shares in Hillshire up 5.1 percent to $61.92 in afternoon trading.
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