Saturday, October 25th5.1°C
23711
23589

Tyson makes $6.2 billion offer for Hillshire Brands after Pilgrim Pride's $5.58B

NEW YORK, N.Y. - Hillshire Brands has another suitor. Tyson Foods Co. is offering to buy Hillshire for $50 per share. That's $5 per share higher than Pilgrim's Pride offer earlier this week.

Hillshire Brands, which makes Ball Park hot dogs and Jimmy Dean sausages, has been trying to buy Birds Eye frozen vegetables maker Pinnacle Foods for $4.23 billion.

But Tyson, one of the world's largest meat-processing companies, said its offer would make a more profitable company.

The offer is a 35 per cent premium to Hillshire's closing price May 9, the day before Hillshire announced its Pinnacle acquisition bid. The offer is worth about $6.2 billion.

Hillshire said earlier it strongly believes in its deal with Pinnacle Foods but is reviewing Pilgrim Pride's $5.58 billion offer.

Hillshire could not immediately be reached about the Tyson offer.

The Canadian Press


Read more Business News

23891


Recent Trending




Today's Market
S&P TSX14543.82+56.99
S&P CDNX805.45-3.15
DJIA16805.41127.51
Nasdaq4483.715+30.923
S&P 5001964.58+13.76
CDN Dollar0.8901-0.0003
Gold1231.20+2.10
Oil81.02-0.73
Lumber336.40+6.80
Natural Gas3.631+0.009

 
Okanagan Companies
Pacific Safety0.105-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.15-0.02
Cantex0.07+0.015
Anavex Life Sciences0.194-0.004
Metalex Ventures0.045+0.005
Russel Metals33.39+0.23
Copper Mountain Mining2.03-0.05
Colorado Resources0.145+0.005
ReliaBrand Inc0.012-0.001
Sunrise Resources Ltd0.05-0.01
Mission Ready Services0.445+0.035

 



23433

FEATURED Property
795961# 404 7470 porqupine road, bigwhite, bc
2 bedrooms 2 baths
$165,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


What I learned in China

Photo: ContributedI will never be an expert on China. It is just too big, too complex and too old with layers of history and meaning that would take several lifetimes to unravel. As I said to my hosts...


We can get on together

I was in LA this week. I witnessed such crazy and unusual circumstances as I strolled along Hollywood Blvd and Sunset Blvd. A far cry from sleepy Peachland in the Okanagan! The strange thing was, I f...


Weakening global growth worries

The Big Picture Growth worries persist Worries about weakening global growth and its potential impact on the US economic recovery roiled markets around the globe this week. Europe continues to be the ...

_








Member of BC Press Council


22707