Hillshire Brands pulls Pinnacle Foods offer


Hillshire Brands (HSH) withdraws its acquisition offer for Pinnacle Foods (PF).

The company's board says it determined that a sale to Tyson Foods provided a more favorable course for shareholders than the Pinnacle Foods buyout.

Pinnacle Foods is entitled to receive a termination fee of $43M, followed by another $120M if certain circumstances occur.

Comments (1)
  • 50 cent it is
    , contributor
    Comments (1453) | Send Message
     
    And the Hillshire board of directors get paid hundreds of thousands to make this decision?
    A 2 year old could have figured this out weeks ago and they would have only required a an ice cream cone for payment.
    16 Jun 2014, 07:55 AM Reply Like
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