USA: Tyson discontinues transaction with IBP
Tyson Foods, Inc. (NYSE: TSN) announced yesterday that it was discontinuing the Agreement and Plan of Merger between itself and IBP, inc. (NYSE: IBP). The letter from Tyson General Counsel Les R. Baledge to Robert L. Peterson, Chairman and Chief Executive Officer of IBP and JoAnn R. Smith, Chairperson of the IBP Special Committee, is attached.
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