Tyson Foods wins Hillshire Brands
June 10 , 2014
Tyson Foods has won the bid to buy Hillshire Brands for $63 a share, but in doing so the company is paying more than the necessary amount to knock-down the next-best offer. The company reportedly beat the offer from Pilgrim's Pride that had offered $55 per share.
Tyson could have won the tender by increasing the Pilgrim's Pride bid to around $57.50.
However, Tyson's CEO said the big offer is worth it since companies such as this one rarely become available.