Tyson, Hillshire Reach Agreement With DOJ
by August 27, 2014 2:25 pm 83 views
Tyson Foods Inc. of Springdale and Chicago-based Hillshire Brands Co. announced Wednesday that, in connection with the review of Tyson’s proposed acquisition of Hillshire Brands by the Antitrust Division of the U.S. Department of Justice, the two companies have agreed on a proposed settlement, a move that should clear the way for Tyson’s takeover of Hillshire to move forward.
The settlement was filed Wednesday in the U.S. District Court for the District of Columbia and is subject to its approval.
The DOJ’s antitrust division has been reviewing the proposed acquisition.
Tyson is set to buy Hillshire for $63 per share, a tender offer set to expire tonight, unless it is prolonged again.
The deadline has been extended several times in recent weeks.