acquiring Hillshire, including Jimmy Dean and Hillshire Farms. However, the firm is paying a hefty premium to outbid Pilgrim ' s Pride , valuing Hillshire at $8.55 billion, or 17 times adjusted 2014 EBITDA. We view Hillshire as a valuable, complementary
affects imports for food products that are hard to find, eventually Sanderson Farms (NASDAQ: SAFM ), Pilgrim ' s Pride (NASDAQ: PPC ), and Tyson Foods (NYSE: TSN ) could see a benefit. Post your comment!
Hillshire Brands ' HSH own plans to acquire Pinnacle Foods (originally announced in May), both Tyson Foods TSN and Pilgrim ' s Pride PPC launched bids for Hillshire, with Tyson eventually triumphing at a $63 per share offer. We view this acquisition
Pinnacle Foods in a debt-fueled transaction. However, Hillshire itself was then subject to a bidding war between Pilgrim ' s Pride and Tyson, of which Tyson eventually succeeded. Tyson is paying a hefty 17 times projected fiscal 2014 EBITDA enterprise
enterprise value of $8.55 billion), contingent on Hillshire terminating its agreement with Pinnacle Foods. Pilgrim ’ s Pride withdrew from the bidding war as a result, but we still view Tyson’s offer as very rich for Hillshire’s shareholders
June 8 (Reuters) - Tyson Foods Inc has prevailed over Pilgrim ' s Pride Corp in a bidding war for Jimmy Dean sausage maker Hillshire Brands Co, according to a person familiar with the matter.
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HSH announced on June 1 that Pilgrim ' s Pride has increased its offer, proposing ..... returns on capital over time. Pilgrim ' s Pride 's updated offer represents ..... Hillshire Brands is tied to Pilgrim ' s Pride 's increased offer, which
Hillshire Brands announced that Pilgrim ’ s Pride has increased its offer, proposing to acquire Hillshire ..... it will be extremely difficult for either Tyson or Pilgrim ’ s Pride to generate enough synergies to make the deal attractive
and some of the vegetable businesses that [TICKER:PF] Pinnacle Foods has. But this week, first [TICKER: PPC ] Pilgrim ' s Pride came out with a $45 a share unsolicited offer for all of Hillshire, contingent on Hillsire not doing the Pinnacle