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Memphis, Tenn.-based Holly Farms Corp. rejected as...

Memphis, Tenn.-based Holly Farms Corp. rejected as inadequate a $900-million buyout offer from rival poultry processor Tyson Foods Inc. of Springdale, Ark. “We just decided that the offer is inadequate and not in the best long-term interest of the shareholders,” said Ted Bailey, a Holly Farms vice president. Tyson Foods, the nation’s largest poultry processor, offered $45 a share plus a quarter share of Tyson Class A stock for each of Holly Farms’ 18.1 million shares outstanding.


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