Sunday, May 26, 2024

Tyson makes rival $6.2B bid for Hillshire Brands

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The Associated Press

NEW YORK —  Hillshire Brands has another suitor.

Two days after poultry producer Pilgrim's Pride made a $5.58 billion bid for the maker of Ball Park hot dogs and Jimmy Dean sausages, Tyson Foods Co. barged in with a $6.2 billion offer. The latest offer sent Hillshire shares up 14 percent in premarket trading.

The offer by Tyson, one of the world's largest meat producers, is for $50 per share. That's $5 per share higher than Pilgrim's Pride offer. Hillshire has about 124 million shares outstanding, according to Securities &. . .

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