Tyson Foods confirms $8.55B deal to buy Hillshire Brands

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

Tyson Foods (TSN) confirms a deal to buy Hillshire Brands (HSH) for $63 per share in a deal valued at $8.55B.

The company will use cash on hand and a bridge loan to fund the acquisition.

Execs will discuss the merger on a conference call at 8:30 AM EST.

Shares of Tyson are down 2.8% in premarket action, while Hillshire Brands is up 5.1% to $61.95.