- Tyson Foods is expected to acquire Hillshire Brands after submitting the winning bid valued at $8.55 billion including debt in a fight to take control of the maker of Ball Park franks, Jimmy Dean sausages, and other processed meats.
- The victory for Tyson, the largest meat company in the United States, comes as a blow to Pilgrim's Pride, which started a feeding frenzy when it bid for Hillshire last month.
- The other loser is Pinnacle Foods; Hillshire had earlier sought to acquire the parent of Vlasic pickles and Birds Eye vegetables. That deal dies as part of the Tyson takeover.
Well, that was fun while it lasted. It's been quite some time since the food industry has seen such fervor over a merger. And this particular battle was pretty interesting, given the back-and-forth bidding and global power of the two suitors.
The question now is whether this fight will lead to more. Pilgrim's and its parent, Brazil's JBS, have cash. Pinnacle is still for sale. And other meat processors are attracting Wall Street's attention.