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Stock Market & Financial Investment News

News Breaks
June 10, 2014
08:13 EDTTSNTyson Foods downgraded at Credit Suisse
As previously reported, Credit Suisse downgraded Tyson Foods (TSN) to Underperform from Neutral. The firm believes the price Tyson paid for Hillshire Brands (HSH) is high and that if the stock market continues to react negatively or there is a decline in core fundamentals, Tyson may have to issue additional stock to get the deal done. Price target lowered to $35 from $40.
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July 16, 2014
17:23 EDTTSNTyson Foods commences tender offer for Hillshire Brands for $63 per share cash
Tyson Foods (TSN) announced that it has commenced a cash tender offer for all outstanding shares of common stock of Hillshire Brands (HSH) at a price of $63.00 per share. The tender offer is being made pursuant to the previously announced merger agreement dated July 1, among the two companies and HMB Holdings, a wholly owned subsidiary of Tyson Foods. The tender offer period will expire at 12:00 midnight at the end of the day on August 12, unless the offer is extended. Tyson Foods has filed a tender offer statement on Schedule TO with the United States SEC. HMB Holdings is the acquirer in the tender offer. The Offer to Purchase contained within the Schedule TO sets out the terms and conditions of the tender offer. Hillshire Brands has also filed a Solicitation/Recommendation Statement with the SEC, which includes the recommendation of the Hillshire board of directors that Hillshire Brands stockholders tender their shares in the tender offer. Following successful completion of the tender offer, any shares not acquired in the tender offer will be acquired in a second-step merger at the same $63 per share cash price.

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