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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
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August 28, 2014
09:04 EDTHSHTyson Foods sees completing Hillshire merger later today
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August 27, 2014
16:53 EDTHSHTyson, Hillshire announce expiration of the HSR waiting period
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14:39 EDTHSHTyson, Hillshire Brands reach agreement with Department of Justice
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14:25 EDTHSHDOJ requires Tyson to divest sow purchasing business in merger settlement
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14:19 EDTHSHHillshire rebounds, back to flat after report of merger deal with DOJ
Shares of Tyson Foods (TSN), which had dropped briefly, are also back to being nearly unchanged.
14:17 EDTHSHTyson Foods, Hillshire enter settlement with U.S. over merger, Bloomberg says
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14:14 EDTHSHHillshire Brands drops 3% to $61.05
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August 26, 2014
13:03 EDTHSHTyson Foods, Hillshire Brands announce extension of tender offer
Tyson Foods (TSN) and The Hillshire Brands Company (HSH) announced that Tyson has extended the offering period of its previously announced tender offer to purchase all of the outstanding shares of common stock of Hillshire Brands for $63.00 per share in cash, without interest, subject to any withholding of taxes required by applicable law and upon the terms and subject to the conditions set forth in the Offer to Purchase dated July 16. Pursuant to the Agreement and Plan of Merger, dated July 1, by and among Tyson, HMB Holdings and Hillshire Brands, the Offer, which was previously scheduled to expire at 12:00 midnight, New York City time, at the end of Tuesday, August 26, has been extended until 12:00 midnight, New York City time, on Wednesday, August 27, unless it is extended further under the circumstances set forth in the Merger Agreement. All terms and conditions of the Offer shall remain unchanged during the extended period.
12:09 EDTPPCSanderson Farms tumbles after Q3 results fall short of expectations
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August 19, 2014
18:19 EDTHSHTyson, Hillshire announce extension of tender offer for shares of Hillshire
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