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Omaha Steve

(99,061 posts)
Mon Jun 9, 2014, 08:42 AM Jun 2014

Tyson wins bid war for Hillshire with $7.75B offer

Source: AP-EXCITE

NEW YORK (AP) — Meat producer Tyson Foods Inc. has won a bidding war for Hillshire Brands, the maker of Jimmy Dean sausages and Ball Park hot dogs, with a $63 per share offer.

Both Tyson and Pilgrim's Pride had been bidding of Hillshire Brands. Tyson had previously offered $50 per share for the company. Pilgrim's Pride then raised its bid to $55 per share. Pilgrim's Pride says it is withdrawing its offer.

The offer from Tyson is worth $7.75 billion based on Hillshire's 123 million shares outstanding. Tyson values the deal at $8.55 billion, including debt.

FULL story at link.


Read more: http://apnews.excite.com/article/20140609/us-tyson-hillshire-6d64e41f91.html

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Tyson wins bid war for Hillshire with $7.75B offer (Original Post) Omaha Steve Jun 2014 OP
Wow! yeoman6987 Jun 2014 #1
They are paying $7.75 bilion in cash cosmicone Jun 2014 #2
Ah....thank you! yeoman6987 Jun 2014 #3
Wow indeed ... had no idea those brands were valued so highly Auggie Jun 2014 #6
Gee, more consolidation in the corporate world rurallib Jun 2014 #4
Sad davidpdx Jun 2014 #5
 

yeoman6987

(14,449 posts)
1. Wow!
Mon Jun 9, 2014, 08:45 AM
Jun 2014

Tyson made a good deal if it was valued at 8.55 billion and they got it for 7.75 billion or am I reading this wrong?

 

cosmicone

(11,014 posts)
2. They are paying $7.75 bilion in cash
Mon Jun 9, 2014, 09:06 AM
Jun 2014

and assuming liabilities of $800 million. Cash + debt = $8.55 billion on the books.

rurallib

(62,344 posts)
4. Gee, more consolidation in the corporate world
Mon Jun 9, 2014, 09:34 AM
Jun 2014

where oh where is the justice department to stop this trend to monopoly?

davidpdx

(22,000 posts)
5. Sad
Mon Jun 9, 2014, 09:41 AM
Jun 2014

I liked the Hillshire smoked sausage, but don't trust Tyson worth a rat's ass. They carry them at Costco (and a few other places) here in Korea. Needless to say I won't be buying that product anymore.

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