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Pinnacle Foods Incorporated
Tyson wins bidding war to buy Hillshire Brands
Tyson wins bidding war to buy Hillshire Brands

Tyson Foods Inc. has agreed to buy Hillshire Brands Co. after a mammoth bidding war in which it agreed to fork over about $7.7 billion. The country's largest U.S. meat processor by sales will pay $63 a share in cash for Chicago-based Hillshire, whose brands include Jimmy Dean sausage and Ball Park franks. Including the assumption of Hillshire's debt, the deal is worth $8.55 billion, Tyson said in a statement. Springdale, Ark.-based Tyson beat out rival Pilgrim's Pride, which offered $55 a share in a spirited bidding war that started last month when Hillshire offered to buy another company, Pinnacle Foods Inc. In an unusual twist, Hillshire went from would-be acquirer...

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