date:Jun 10, 2014
that it was in the best interests of our shareholders not to increase our proposed price, Pilgrim's said in a statement on Monday. Pilgrim's $45 per share offer on May 27 sparked the bidding war.
Investors cheered the final deal, sending shares in Hillshire up 5.1 percent to $61.92 in afternoon trading.
Analysts had warned that a bidding war could result in the winner overpaying for Hillshire. They also said such a merger could give the winner a competitive advantage that would be hard for the