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Pinnacle Foods remains a likely target

Jun 13, 2014 - The Deal Pipeline
Mergers and Acquisitions

In the wake of Tyson Foods Inc.'s $63 per share, $8.5 billion offer to acquire Hillshire Brands Co., Pinnacle Foods Inc. may effectively be on the auction block, say industry sources.

Not only did Pinnacle put itself on the block with a deal that will likely not be consummated, given how lucrative Tyson Foods' offer is, it also effectively named its price.

Tyson's bid to acquire Hillshire - beating out rival Pilgrim's Pride Corp. - is at an eye-popping Ebitda multiple of nearly 18 ti...