IBP, inc. (NYSE:IBP) said yesterday, in response to Tyson Foods, Inc.’s announcement that it is commencing a cash tender offer for 50.1% of the outstanding IBP shares, that Tyson’s offer will be evaluated by the Special Committee of the Board of Directors of IBP. Within ten business days following the commencement of Tyson’s tender offer, IBP will advise stockholders of its position regarding the offer, and state its reasons for such position. Accordingly, IBP urges its stockholders to defer making a determination whether to accept or reject Tyson’s offer until they have been advised of IBP’s position with respect to the offer.
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