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Tyson ready to play chicken over Hillshire Brands

May 29, 2014 - The Deal Pipeline
Mergers and Acquisitions

Tyson Foods Inc. announced Thursday that it was joining the battle to acquire the Chicago-based maker of Jimmy Dean sausage, unveiling a $6.8 billion offer for Hillshire Brands Co.that tops Pilgrim's Pride Corp. proposal, launched just two days earlier.

Springdale, Ark.-based Tyson, the nation's largest meat processor, said it would buy Hillshire for $50 a share in cash, valuing the target's equity at $6.13 billion based upon its nearly 123 million shares outstanding. Pilgrim's Pride offe...