USA: Tyson Foods, Inc. announces expiration date of tender offer
Tyson Foods, Inc. (NYSE: TSN) yesterday announced the expiration date of its cash tender offer to purchase up to 50.1% of the outstanding shares of IBP, inc. (NYSE: IBP). The cash tender offer, which commenced Tuesday, July 3, 2001, is now scheduled to expire on Friday, August 3, 2001 at 12:00 midnight, New York City time. Tyson extended the cash tender offer to coincide with the Delaware Chancery Court's scheduled settlement hearings on IBP's existing shareholder suit on August 3, 2001. Under the court approved stipulation between Tyson and IBP, this is the earliest date Tyson could be obligated to purchase IBP shares in the cash tender offer.
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