Tyson is said to have won bidding war for Hillshire

|About: Tyson Foods Inc. (TSN)|By:, SA News Editor

Tyson Foods (TSN) appears to have won the battle to buy Hillshire Brands (HSH), after offering $7.7B for the company, or $63 a share. The offer is nearly $1B more than the bid cast by Pilgrim's Pride (PPC) last week.

The deal is still not finalized, and can take a few days, if not more. Hillshire Brands cannot even make another deal until it terminates a previous merger agreement with Pinnacle Foods (PF), paying $163M towards a break-up fee.