US: Tyson "outbids Pilgrims" in battle for Hillshire
Tyson "outbids" Hillshire - reports
According to Bloomberg, which cited sources with knowledge of the matter, negotiations between Hillshire and its suitors over the weekend saw Hillshire reach an agreement to endorse an improved offer from Tyson and abandon its previously-agreed merger with Pinnacle Foods.
If Hillshire does back out of the Pinnacle deal the group will be required to pay a US$163m breakup fee.
Pilgrim's Pride entered these negotiations as the highest bidder - with an offer of US$55 a share for the business. Tyson had issued a bid of $50 per share. Hillshire shares are currently trading at $58.92.
Tyson, Hillshire and Pilgrim's did not immediately respond to requests for comment.
A frozen pizza is a ready-made pizza that consumers can store in their refrigerators and consume as and when required. The shelf life of a frozen pizza is approximately 4-6 months, if stored in a free...
Canned food products refer to processed food items that are available in airtight suitable metal cans with added preservatives. Short cooking time, long shelf life, and easy storage are some of the fa...
- Nestle on China, candy, nutrition - analysis
- Why Jet.com purchase could boost Wal-Mart online
- What lies ahead for Tyrrells and Amplify?
- England child obesity plan should cheer industry
- Hain accounting issue rounds off problem year
- Mondelez buys rest of Vietnam snacks business
- Lotus Bakeries enjoys growth organically, via M&A
- Smucker cuts forecast as sales decline
- Emmi earnings grow but sales outlook lowered
- Unite outlines 2 Sisters stance on UK pizza site