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News Breaks
June 11, 2014
13:45 EDTTSN, HSH, PFPinnacle mulls seeking higher break fee as Hillshire won't back deal, WSJ says
Hillshire Brands (HSH) privately notified Pinnacle Foods (PF) earlier this week that it does not plan to recommend a merger with Pinnacle to its shareholders, and Pinnacle is now considering whether to hold Hillshire to its merger agreement or seek more money to agree to terminate its deal, according to The Wall Street Journal, citing people familiar with the matter. Hillshire's board has previously said that it has not approved or signed any deal to be acquired by Tyson (TSN), which has proposed to acquire it for $63 per share in cash. Reference Link
News For PF;HSH;TSN From The Last 14 Days
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October 9, 2015
12:06 EDTTSNUSDA increases meat production forecasts for 2015, 2016
In its latest World Agricultural Supply and Demand Estimates report, the USDA increased its forecasts for total meat production in 2015 and 2016. Beef production for 2015 is raised on larger forecast slaughter of fed cattle in the second half of 2015 and heavier carcass weights. The forecast for 2016 is raised as cattle slaughter and carcass weights in the first half are projected higher than last month. The pork production forecasts for both 2015 and 2016 are raised. The pace of hog slaughter in the remainder of 2015 is expected to be higher, the USDA said. Publicly traded companies in the meat production space include Hormel Foods (HRL), Pilgrim's Pride (PPC), Sanderson Farms (SAFM) and Tyson Foods (TSN).
October 8, 2015
09:04 EDTPFPinnacle Foods appoints D. Michael Wittman Chief Supply Chain Officer
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September 30, 2015
07:44 EDTTSNTyson Foods valuation multiples 'remain compressed,' says JPMorgan
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