Tyson again extends the Hillshire tender deadline

by The City Wire staff ([email protected]) 33 views 

Tyson Foods has again extended the period for its tender offer to buy Hillshire Brands at $63 per share.

The new deadline is Aug. 26, and was extended as the food companies work through antitrust issues with the U.S. Department of Justice.

Tyson expects the deal to close on or before Sept. 27. Roughly 73% of the Hillshire Brands shares have already been tendered according to the depositary firm handing the transaction.

Analysts do not expect any major hang-ups with this merger given that both companies plan to continue selling their own branded products.

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