Pilgrim Foods Offers A Rich Premium For Hillshire Brands
Mike Arnold • 26 Comments
Mike Arnold • 26 Comments
Hillshire Brands Tries To Go Higher
Dec. 18, 2014, 10:34 AM
- Antitrust regulators in France have fined 11 companies a combined $1.17B on price-rigging charges.
- Companies hit by the action include L'Oreal (OTCPK:LRLCF), Unilever (NYSE:UL), Colgate-Palmolive (NYSE:CL), Hillshire Brands (NYSE:HSH), Johnson & Johnson's (NYSE:JNJ) French business, and Reckitt Benckiser Group (OTCPK:RBGLY).
- Statements from the consumer products sellers expressed some outrage over the sanctions due to the limited impact on consumers.
Aug. 29, 2014, 5:03 AM
- Tyson Foods (NYSE:TSN) has completed its $7.7B acquisition of Hillshire Brands (NYSE:HSH).
- Hillshire's common stock will be de-listed and cease trading on the NYSE and Chicago Stock Exchange before the market open this morning.
- Tyson says the combined company's new leadership will include a mix of senior leaders from both companies, but Hillshire's CEO Sean Connolly has chosen to pursue other interests.
Aug. 27, 2014, 2:46 PM
- Tyson Foods (TSN +0.9%) and Hillshire Brands (HSH) confirm they have reached a settlement with the DOJ in relation to an inquiry over the planned merger of the two companies.
- A divestiture of Tyson's Heinold Hog Markets sow purchasing business was part of the concessions agreed upon.
- State AGs from Illinois, Iowa, Missouri also signed off on the deal.
Aug. 20, 2014, 6:05 PM
- Hillshire Brands Co. (NYSE:HSH) declares $0.175/share quarterly dividend, in line with previous.
- Forward yield 1.11%
- Payable Sept. 3; for shareholders of record Sept. 3; ex-div Aug. 29.
Aug. 13, 2014, 7:38 AM
- Hillshire Brands (NYSE:HSH): FQ4 EPS of $0.33 beats by $0.07.
- Revenue of $1.06B (+10.2% Y/Y) beats by $65.9M.
Aug. 13, 2014, 3:58 AM
- The Department of Justice's Antitrust Division has requested additional information from Tyson Foods (NYSE:TSN) and Hillshire Brands (NYSE:HSH) regarding their $7.7B deal announced in June.
- Tyson's tender offer, which was scheduled to expire on July 16, has been extended until Aug. 19. The companies estimate the deal to be completed by Sept. 27.
- Antitrust experts are expecting the deal to win approval, since the companies tend to sell different products.
Aug. 5, 2014, 1:17 PM
- Tyson Foods (TSN -0.1%) will reportedly issue $3.25B worth of debt to help fund the purchase of Hillshire Brands (HSH).
- The company will utilize bond maturities ranging from 5 years to 30 years, according to sources.
- Tyson's increased debt load will be a factor in how ratings agencies grade the meat producer.
Jul. 2, 2014, 8:18 AM
- 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.
Jun. 30, 2014, 5:16 PM
- Pinnacle Foods (PF) says it is terminating its merger agreement with Hillshire Brands (HSH) and expects to receive a $163M cash payment from HSH.
- Hillshire withdrew support for the merger two weeks ago, choosing a $7.7B takeover offer from Tyson Foods.
- PF also reaffirms FY 2014 EPS guidance of $1.70-$1.75 vs $1.74 analyst consensus estimate.
Jun. 16, 2014, 7:43 AM
- 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.
Jun. 12, 2014, 8:39 AM
- Global consumption of meat will increase 1.9% a year over the next decade as demand for protein in nations such as China, Mexico, and Brazil supports the market.
- The UN's Food and Agriculture Organization forecasts that by 2030 the average person will eat close to 99 pounds of meat per year, compared to 86 pounds in 2007.
- The steady rise in protein demand has underpinned a wave of merger activity in the food sector including Tyson Foods' takeover of Hillshire Brands and Shuanghui International's acquisition of Smithfield Foods.
- Related stocks: TSN, HRL, SAFM, SEB, HSH, PPC
Jun. 9, 2014, 7:57 AM
Jun. 9, 2014, 7:39 AM
- 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.
Jun. 9, 2014, 1:31 AM
- 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.
Jun. 4, 2014, 1:56 PM
Jun. 3, 2014, 9:25 AM
Hillshire Brands Co is a manufacturer and marketer of convenient food. The Company operates in two business segments: Retail and Foodservice. Its brands portfolio includes Jimmy Dean, Ball Park, Hillshire Farm, State Fair, Van's, and Sara.
Sector: Consumer Goods
Industry: Processed & Packaged Goods
Country: United States
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