Report: Tyson agrees to buy Hillshire Brands

Written By SUN-TIMES WIRE AND STAFF REPORT Posted: 06/08/2014, 03:38pm

A Bloomberg News report Sunday night indicated Tyson Foods, the country’s largest meat company, had agreed to purchase Chicago-based Hillshire Brands. Bloomberg cited as its source two people with knowledge of the agreement.

Hillshire Brands is known for its Jimmy Dean sausage, Ball Park hot dogs and Sara Lee frozen bakery goods. It also had been sought by Pilgrim’s Pride Co., the country’s second-largest chicken producer, which made an unsolicited offer in May to purchase Hillshire for about $6.4 billion plus debt.

Tyson later entered the bidding war, with an offer that eventually was said to reach about $6.8 billion.

Bloomberg’s story did not include final terms of the Tyson-Hillshire deal.

A Hillshire spokesman did not immediately respond to an emailed request for comment Sunday night.

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