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Holly Farms Corp. indicated that it would...

Holly Farms Corp. indicated that it would consider endorsing a $63.50-a-share or higher cash buyout offer from Tyson Foods Inc., but left room for rival bidder ConAgra Inc. to raise its bid. Holly Farms’ board had previously rejected Tyson’s latest offer, which values the poultry processing company at about $1.1 billion, even though it acknowledged the bid topped ConAgra’s $1-billion stock-swap offer. The board said it had doubts that Tyson could pay $63.50 a share for the company and had been unwilling to assure Holly Farms shareholders that they would not receive a lesser amount.


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