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Pinnacle Foods Incorporated
Pilgrim's Pride offers to buy Hillshire Brands in $6.4-billion deal
Pilgrim's Pride offers to buy Hillshire Brands in $6.4-billion deal

Poultry producer Pilgrim's Pride on Tuesday offered to pay cash for Hillshire Brands Co. in a deal valued at $6.4 billion that would nix Hillshire's pending acquisition of Pinnacle Foods. Hillshire's stock surged on the news. Pilgrim's Pride Corp., based in Greeley, Colo., said Tuesday's unsolicited proposal "provides Hillshire shareholders with a substantially superior alternative" to the pending acquisition of Pinnacle, the maker of Hungry-Man frozen dinners and Duncan Hines cake mixes.  Pilgrim's estimates that if Hillshire accepts its bid, the combined "protein-focused" company would have annual sales of $12.4 billion.  ...

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