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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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August 27, 2014
16:53 EDTTSNTyson, Hillshire announce expiration of the HSR waiting period
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14:39 EDTTSNTyson, Hillshire Brands reach agreement with Department of Justice
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14:25 EDTTSNDOJ requires Tyson to divest sow purchasing business in merger settlement
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14:19 EDTTSNHillshire 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 EDTTSNTyson Foods, Hillshire enter settlement with U.S. over merger, Bloomberg says
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August 26, 2014
13:03 EDTTSNTyson 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 EDTTSNSanderson Farms tumbles after Q3 results fall short of expectations
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August 21, 2014
12:24 EDTTSNHormel hits 52-week high after Q3 results beat estimates
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August 19, 2014
18:19 EDTTSNTyson, Hillshire announce extension of tender offer for shares of Hillshire
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August 14, 2014
06:22 EDTTSNEPA advancing criminal probe into chemical spill at Tyson plant, WSJ reports
The EPA is advancing its criminal probe into May's chemical spill at a Tyson Foods poultry-processing plant in Missouri, the Wall Street Journal reports. Two weeks ago, the EPA served a search warrant at the plant and is seeking documents and records fromt he company as it looks into the plant's discharge of waste from an animal feed supplement into the city's sewers. The chemical spill released high levels of ammonia into a creek and killed at least 100,000 fish. Reference Link
August 13, 2014
07:31 EDTTSNHillshire Brands reports Q4 adjusted EPS 33c, consensus 26c
Reports Q4 revenue $1.1B, consensus $994.1M. As previously announced, on July 1, Hillshire Brands entered into a definitive agreement with Tyson Foods (TSN) under which Tyson will acquire all outstanding shares of Hillshire Brands for $63 per share. On August 12, 2014, each of Tyson and Hillshire Brands received a request for additional information, each often referred to as a “second request,” from the Antitrust Division of the Department of Justice in connection with the proposed acquisition. Each second request was issued pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. The second requests relate only to a very small portion of the combined Tyson/Hillshire Brands business, and the parties are working expeditiously to resolve this matter with the Antitrust Division. Tyson and Hillshire Brands continue to expect that the transaction, which remains subject to customary closing conditions, will be completed by September 27.

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