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Tyson Foods wins Hillshire Brands

  • 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. 

    Tagged as: tyson foods deal, tyson foods hillshire brands, hillshare bidding, money news, business news