Reuters: Tyson, Post final contenders to buy Michael Foods


Michael Foods is evaluating binding bids from Tyson (TSN) and Post (POST) and is near a deal to be sold to one of the two for ~$2.5B, Reuters reports.

A deal is expected to come in the next two weeks for the egg and dairy products producer, which has been put up for sale by Goldman Sachs' PE arm.

For both Tyson and Post, a takeover of Michael Foods would be their largest deal in recent years; TSN has traditionally shunned large acquisitions, while Post has been pursuing deals aggressively.

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