The Traderszone Network

Published in TZ Latest News 3 June, 2014 by The TZ Newswire Staff

Pilgrim’s Pride tops Tyson Foods’ offer for Hillshire

Hillshire’s shares rose 9 percent at $58.50 in premarket trading, after Pilgrim’s Pride said it raised its offer to $55 per share in cash from $45. Tyson Foods, the largest U.S. meat processor, has offered $50 per share in cash. Hillshire said it would “provide information” to both bidders and conduct talks with them. Pilgrim’s Pride said its offer valued Hillshire at $7.7 billion, including debt.