Tyson Foods has reportedly won its bidding war with Pilgrim’s Pride to acquire processed meat company Hillshire Brands, reports say.
Tyson ultimately won the food fight with a bid of $8.55 billion, an offer announced Monday. The bidding concluded Sunday when Pilgrim’s announced it had withdrawn its $7.7 billion offer.
Pilgrim’s first announced plans to acquire Hillshire last week, though noted that its acquisition would only be valid if Hillshire dropped its own buyout plans. Hillshire had initially sought to acquire Pinnacle for $4.3 billion.
Following Pilgrim’s offer, Tyson first offered $6.8 billion for Hillshire.
The deal remains subject to regulatory approval.
Full content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Judge Allows FTC Antitrust Case Against Amazon to Move Forward
Oct 1, 2024 by
CPI
SAP Leader Urges Caution on EU AI Rules, Warns of Competitive Disadvantage
Oct 1, 2024 by
CPI
Colorado’s Grocery Workers Unite to Oppose $24.6 Billion Supermarket Merge
Oct 1, 2024 by
CPI
Canada’s Competition Bureau Warns Businesses of Tougher Enforcement
Oct 1, 2024 by
CPI
Top Antitrust Lawyers Launch New Boutique Firm
Oct 1, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Refusal to Deal
Sep 27, 2024 by
CPI
Antitrust’s Refusal-to-Deal Doctrine: The Emperor Has No Clothes
Sep 27, 2024 by
Erik Hovenkamp
Why All Antitrust Claims are Refusal to Deal Claims and What that Means for Policy
Sep 27, 2024 by
Ramsi Woodcock
The Aspen Misadventure
Sep 27, 2024 by
Roger Blair & Holly P. Stidham
Refusal to Deal in Antitrust Law: Evolving Jurisprudence and Business Justifications in the Align Technology Case
Sep 27, 2024 by
Timothy Hsieh