Iowa Group Buys Tyson Stock
by January 12, 1998 12:00 am 68 views
Invista Capital Management Inc. of Des Moines, Iowa, has purchased 6.7 million shares of Tyson Foods Inc. stock, making Invista the third largest holder of Tyson Foods stock with 6.1 percent, according to Tyson’s proxy statement filed Dec. 9.
Brinson Partners Inc. of Chicago, in affiliation with Swiss Bank Corp., had previously purchased 11.9 million shares of Tyson Foods Inc. stock. Brinson is the second largest stockholder in Tyson Foods (with 10.9 percent) next to Senior Chairman Don Tyson and Tyson Limited Partnership, which together have 102.5 million shares of class B stock (which normally isn’t traded publicly) and 554,924 shares of class A stock, according to the proxy.
Swiss Bank Corp. and Invista have displaced INVESCO PLC of London, England, as the leading shareholder of Tyson’s class A stock. INVESCO held 4.9 million shares (or 6.5 percent of the class A stock) as of Jan. 10, 1997. As of the Dec. 9 proxy, INVESCO ranked fourth with 6.1 million shares (5.6 percent).
At the Jan. 7 stock price of $19.8125, the Invista purchase was valued at $134 million.
Invista Capital Management is owned by Principal Financial Group, a worldwide financial services company based in Des Moines.