New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 3, 2014
06:28 EDTHSH, PPC, PFPilgrim's Pride confirms revised proposal to acquire Hillshire at $55 per share
Pilgrim's Pride (PPC) confirmed that on June 1, it submitted a revised proposal to acquire Hillshire Brands (HSH) for $55.00 per share in cash in a transaction valued at $7.7B. The proposal represents an increase of $1.3B versus Pilgrim's initial proposal, and a 49% premium over Hillshire's share price one day prior to the announcement of its transaction with Pinnacle Foods (PF). Pilgrim's revised proposal is not subject to any financing conditions or contingencies. Pilgrim says it is confident the transaction is strategically and financially compelling, and creates considerable value for the shareholders of both Pilgrim's and Hillshire. Pilgrim's anticipates run-rate cost synergies in excess of $300M annually to come from operational and value-chain efficiencies. Pilgrim's expects the increased cash flow from the combined company and the realization of synergies will allow it to rapidly pay down the initial acquisition debt. Pilgrim's projects the combination to be immediately accretive to earnings due to these significant synergies and the availability of attractive financing terms.
News For HSH;PPC;PF From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 17, 2014
11:14 EDTPPCPilgrim's Pride recovers some lost ground, levels to watch
Subscribe for More Information
09:07 EDTPPCProtein stock pullback on Sanderson comments overdone, says BMO Capital
BMO Capital views yesterday's decline in Sanderson Farms (SAFM), Pilgrim's Pride (PPC) and Tyson Foods (TSN) as an overreaction to Sanderson's comments regarding breast prices falling to year-ago levels for the next four months. BMO notes that breast prices always dip in the fall. Following Sanderson's investor day, BMO said it sees a greater probability of chicken margins remaining at near-record levels in 2015. It keeps an Outperform rating on the stock.
07:39 EDTPPCChicken stock sell-off yesterday overdone, says JPMorgan
Subscribe for More Information
October 16, 2014
15:35 EDTPPCSanderson Farms falls following investor day meeting
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use