- Tyson Foods (TSN) and Hillshire Brands (HSH) say both boards have approved the merger of the two companies in an all-cash $8.55B transaction.
- The deal is expected to close before September 27 after a two-step tender offer completes.
- Tyson Foods will be the company making the $163M termination payment to Pinnacle Foods (PF), not Hillshire as widely reported.
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