date:Jun 04, 2014
Pilgrims Pride has increased its offer to acquire the Hillshire Brands Co., Chicago, to $55 per share in a proposed transaction that is now valued at $7.7 billion. Pilgrims Prides revised bid came in response to an offer submitted by Tyson Foods, Inc., Springdale, Ark., on May 29 to acquire Hillshire Brands for $50 per share in a proposal valued at $6.8 billion.
On May 27, Pilgrims Pride offered to acquire Hillshire Brands for $45 per share. The company said that if its bid is successful the ac