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May 29, 2014

Tyson Foods bids to buy Hillshire Brands

Tyson Foods announced that it proposes to acquire The Hillshire Brands Company  for $50 per share in cash in a deal valued at $6.8 billion. The offer comes just days after JBS unit Pilgrim’s Pride made a $6.4 billion offer for Hillshire Brands. The Tyson proposal would provide Hillshire shareholders with an immediate and significant return on their investment in Hillshire and constitutes a significantly superior alternative to Hillshire’s previously announced agreement to acquire Pinnacle Foods Inc., the company said in a statement. Read More

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