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Hillshire Brands Co. (HSH)

- NYSE
HSH is defunct.
  • 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.
    | 13 Comments
  • 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.
    | Comment!
  • 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.
    | Comment!
  • 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.
    | Comment!
  • 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.
    • Press Release
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  • 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.
    | Comment!
  • 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.
    | Comment!
  • 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.
    | 1 Comment
  • 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.
    | 1 Comment
  • 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.
    | 1 Comment
  • 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
    | 1 Comment
  • Jun. 9, 2014, 7:57 AM
    • Pilgrim's Pride (PPC) withdraws its proposal to buy Hillshire Brands (HSH) after seeing Tyson Foods come in over the top of its $55-per-share offer.
    • The company says it was in the best interest of shareholders to end the bidding war.
    | 2 Comments
  • 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.
    | 2 Comments
  • 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.
    | 2 Comments
  • Jun. 4, 2014, 1:56 PM
    • Second prize in the bidding war for Hillshire Brands (HSH +0.8%) could be Maple Leaf Foods (MLFNF) or Premium Brands (PRBZF), according to food sector analysts.
    • A takeover premium of 12X EBITDA gives shares of both companies room to run higher.
    | 1 Comment
  • Jun. 3, 2014, 9:25 AM
    | Comment!
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Company Description
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.