A PYMNTS Company

US: Food fight winner for Hillshire emerges

By  |  June 9, 2014

Tyson Foods has reportedly won its bidding war with Pilgrim’s Pride to acquire processed meat company Hillshire Brands, reports say.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Tyson ultimately won the food fight with a bid of $8.55 billion, an offer announced Monday. The bidding concluded Sunday when Pilgrim’s announced it had withdrawn its $7.7 billion offer.

    Pilgrim’s first announced plans to acquire Hillshire last week, though noted that its acquisition would only be valid if Hillshire dropped its own buyout plans. Hillshire had initially sought to acquire Pinnacle for $4.3 billion.

    Following Pilgrim’s offer, Tyson first offered $6.8 billion for Hillshire.

    The deal remains subject to regulatory approval.

    Full content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.