Tyson ties knot with Hillshire

Marion Dakers
TYSON Foods and Hillshire Brands yesterday made their $8.55bn (£5bn) tie-up official, after rival Pinnacle ended its pursuit.

Arkansas-based Tyson swooped on Hillshire in May with an unsolicited offer, eventually scuppering Pinnacle’s merger ambitions.

Hillshire said last month that it was dropping its support for Pinnacle’s plans, leaving Tyson clear to seal its $63-per-share bid. The deal includes $163m in termination fees.