USA: IBP "shocked" at Tyson turnaround
Meatpacking giant IBP is said to be "shocked" at the announcement late last night that Tyson Foods has abandoned its proposed US$3.2bn-plus-assumption buyout of the company. A news release from IBP continued: "This comes as a complete surprise." Based in Dakota Dunes, South Dakota, the pork and meat processor insisted today that it had resolved issues of accounting and finance that threatened to block the deal with the US Securities and Exchange Commission (SEC). The company also states it had been completely open with Tyson about the SEC inquiries as some as they began. Furthermore, "As recently as this week, our sense was that Tyson had every intention of going through with the transaction."
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Comment: Premier has more to ponder than Brexit
- Trump seen as negative for global food trade
- 2017: food policy hotspots in the UK, EU and US
- Analysis: B&G Foods balancing growth and decline
- Why near-term takeover of Mead Johnson unlikely
- Weetabix takeover talk gathers pace
- Unilever rebrands I Can't Believe It's Not Butter
- Boparan confirms interest in Fox's Biscuits
- Nestle mum on Mead Johnson takeover talk
- Update - Pladis not bidding for Weetabix