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Stock Market & Financial Investment News

News Breaks
May 27, 2014
07:07 EDTPPC, HSH, PFPilgrim's Pride proposes to acquire Hillshire Brands for $45.00 per share cash
Pilgrim's Pride Corporation (PPC) announced that it has made a proposal toacquire The Hillshire Brands Company (HSH) for $45.00 per share in cash, in a transaction valued at $6.4B. Pilgrim said its all-cash proposal provides Hillshire shareholders with a substantially superior alternative to Hillshire's pending acquisition of Pinnacle Foods (PF), representing a 25% premium to the volume weighted average price of Hillshire shares over the 10 trading days following the announcement of the Pinnacle transaction. Further, the transaction represents a compelling value to Hillshire shareholders at 12.5x Hillshire's trailing adjusted EBITDA, including the $163M termination fee payable to Pinnacle. The proposal has the unanimous support of the Board of Directors of Pilgrim's, as well as the support of JBS S.A., the majority owner of Pilgrim's. It is anticipated that the proposed transaction would close in the third quarter of 2014 and would be subject to customary closing conditions and the termination of Hillshire's merger agreement with Pinnacle. Pilgrim's expects to finance the acquisition with a combination of existing cash balances and new debt financing.
News For PPC;HSH;PF From The Last 14 Days
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October 31, 2014
10:00 EDTPPCOn The Fly: Analyst Upgrade Summary
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08:27 EDTPPCPilgrim's Pride upgraded to Overweight from Equal Weight at Stephens
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08:04 EDTPPCPilgrim's Pride upgraded to Buy from Hold at BB&T
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October 29, 2014
17:05 EDTPPCPilgrim's Pride reports Q3 EPS 99c, consensus 79c
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October 17, 2014
11:14 EDTPPCPilgrim's Pride recovers some lost ground, levels to watch
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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
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