☰

Bolsa, mercados y cotizaciones

Tyson Foods says wins bidding war for Hillshire Brands


    (Reuters) - Tyson Foods Inc TSN.N said it reached a "unilaterally binding offer" to buy Hillshire Brands Co HSH.N for $8.55 billion, including debt, beating out Pilgrim's Pride Corp PPC.O for the maker of Jimmy Dean sausages.

    Tyson's increased offer of $63 per share represents a premium of nearly 7 percent to Hillshire's Friday closing price of $58.92.

    Tyson, the world's second largest meat processor after Brazil's JBS SA JBSS3.SA, had earlier offered $50 per share, which valued Hillshire at $6.8 billion, including $500 million in debt.

    Pilgrim's Pride, majority owned by JBS, raised its offer to $55 per share last week from $45 per share, valuing Hillshire at $7.7 billion, including debt.

    (Reporting by Devika Krishna Kumar in Bangalore; Editing by Kirti Pandey))