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Stock Market & Financial Investment News

News Breaks
July 28, 2014
07:45 EDTTSNTyson Foods files to sell 24M shares of common stock, 30M tangible equity units
Tyson Foods announced today that it has commenced concurrent public offerings of 24M shares of its Class A common stock and 30M tangible equity units, with each tangible equity unit having a stated amount of $50 and comprised of a prepaid stock purchase contract and a senior amortizing note due July 15, 2017, each issued by the company. The company intends to use the net proceeds from these offerings, together with additional debt financing and cash on hand, to finance the previously announced acquisition of The Hillshire Brands Company and to pay related fees and expenses. If for any reason the Hillshire Brands Acquisition is not consummated, then the company intends to use the net proceeds from these offerings for general corporate purposes. Morgan Stanley and J.P. Morgan are acting as lead joint book-running managers and RBC Capital Markets is acting as joint book-running manager for the Class A common stock offering and the tangible equity units offering.
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September 11, 2014
12:05 EDTTSNUSDA lowers forecasts for 2014, 2015 meat production
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September 10, 2014
09:05 EDTTSNTyson Foods reinstated with a Buy at Goldman
Target $46.
September 4, 2014
09:26 EDTTSNTyson Foods backs FY14 EPS ex-items view of at least $2.78 per share
Consensus $2.81. Tyson CFO Dennis Leatherby stated at the Barclays Back-to-School Consumer Conference that he expects the addition of Hillshire to be accretive to earnings in fiscal 2015 and substantially accretive thereafter, adding that he expects at least 10% EPS growth in FY15.
09:24 EDTTSNTyson Foods CEO says moving forward quickly with Hillshire integration
Tyson President and CEO Donnie Smith told investors at the annual Barclays Back-to-School Consumer Conference that the process for combining the company with Hillshire is well underway, stating, "We're moving forward quickly with the integration and finding synergies, and we feel good about our ability to capture $225M in synergies in the first year and $500M by year three." Smith added, "The more we get into it, the better we feel," according to presentation recap provided by the company.

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