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...
- Rabobank's early view on Brexit impact on food
- Kellogg uses Kashi to finally join party - comment
- New food waste standard will help monitor progress
- Tyrrells' growth plans - CEO interview, part two
- How could a TTIP affect the food industry?
- Brexit – Live reaction from food industry
- Kellogg to invest in "next-generation innovation"
- Post, ConAgra 'held talks' over Lamb Weston merger
- R&R Ice Cream names Daniel Martinez new CFO
- Mars takes UK chocolate brands into trail mixes
- Top Trends in Snacks, Confectionery, and Desserts; Exploring consumer and innovation trends in key categories
- Frozen Bakery Products Market by Type, Distribution Channel, & by Region - Global Trends & Forecast to 2020
- Singapore Food and Drink Report Q3 2016
- Fast Food in India
- Country Analysis Report: Saudi Arabia, In-depth PESTLE Insights