Pilgrim's Pride Corporation (PPC) - NASDAQ
  • 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. 9, 2014, 1:31 AM | 2 Comments
  • May 29, 2014, 8:44 AM
    • Tyson Foods (TSN) offers to buy Hillshire Brands (HSH) for $50 per share.
    • The offer is over the top of a bid from Pilgrim's Pride (PPC) for the company.
    • The news could hit shares of Pinnacle Foods (PF) if it's left without a merger partner.
    • Food stock chain reaction (premarket): TSN +3.4% to $42.15; HSH +13.9% to $51.25, PPC -1.5% to $25.00; PF -1.8% to $31.00.
    | May 29, 2014, 8:44 AM | 4 Comments
  • May 27, 2014, 7:28 AM
    • A $6.4B offer by Pilgrim Pride's (PPC) to buy Hillshire Brands (HSH) could rattle the food sector.
    • For starters, the deal could spoil Hillshire's offer on the table to buy Pinnacle Foods (PF).
    • The quick analyst take on a PPC-HSH combination is favorable with the companies focused in different areas (chicken vs. packaged meat) which could lead to easy access to new distribution channels.
    • Premarket: HSH +22.9% to $45.49, PF -5.3% to $31.50.
    • Also on merger watch in the food sector: THS, SJM, GIS, KRFT, CPB, ADM, BGS, RAH, HAIN, K CAG
    | May 27, 2014, 7:28 AM | 2 Comments
  • May 27, 2014, 7:10 AM
    • Pilgrim's Pride (PPC) proposes to acquire Hillshire Brands (HSH) for $45 per share in an all-cash deal.
    • Shares of PPC are halted, HSH +19.7% premarket.
    | May 27, 2014, 7:10 AM | 1 Comment
Company Description
Pilgrim's Pride Corp. engages in production, processing, marketing, and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators. The company was founded by Lonnie A. Pilgrim and Pilgrim Aubrey on October 2, 1946 and is headquartered in... More
Industry: Meat Products
Country: United States