Tyson Foods has won antitrust approval for its purchase of Hillshire Brands Company, the Justice Department said on Wednesday.» Read More
ConAgra Foods Inc. rose$. 11 or. 3 percent, to $32.00. General Mills Inc. fell$. 04 or. 1 percent, to $53.20. Hormel Foods Corp. fell$. 01 or percent, to $47.50.
ConAgra Foods Inc. fell$. 04 or. 1 percent, to $31.85. General Mills Inc. fell$. 13 or. 2 percent, to $53.10. Hormel Foods Corp. fell$. 06 or. 1 percent, to $47.45.
Aug 12- The U.S. Department of Justice's Antitrust Division has asked Tyson Foods Inc and Hillshire Brands Co for additional information related to Tyson's $7.7 billion offer for the maker of Jimmy Dean sausages. Tyson in June outbid JBS SA's Pilgrim's Pride with a $63 per share offer for Hillshire in what would be the biggest deal yet in the global meat business.
CHICAGO, Aug 12- Beef Products Inc will reopen a Kansas processing plant on Monday to boost production of "lean finely textured beef," which critics call "pink slime," as wholesale beef prices soar with a shrinking U.S. cattle herd.
China has barred pork imports from six U.S processing plants and six cold storage facilities effective on Wednesday.
WASHINGTON, Aug 11- Employment growth at the largest U.S. companies has lagged far behind increases in revenue and operating profit since the start of the century, as firms reaped the benefits of globalization, technology, and other ways to operate more productively, according to a Reuters analysis of corporate data.
WASHINGTON, July 31- The U.S. Department of Agriculture announced on Thursday reforms to decades-old processes for inspecting poultry facilities in a bid to cut down on the number of foodborne illnesses, but dropped an industry-backed plan to speed up production.
July 28- Tyson Foods Inc said on Monday it would sell its Mexican and Brazilian poultry businesses to JBS SA for $575 million and use the proceeds to pay down debt from its pending $7.7 billion purchase of Hillshire Brands Co..
Some of Monday's midday movers:
July 28- Tyson Foods Inc, the biggest U.S. meat processor, said on Monday it would sell its Mexican and Brazilian poultry businesses to bigger global rival JBS SA's Pilgrim's Pride for $575 million.
July 28- Tyson Foods Inc, the biggest U.S. meat processor, said it would sell its Mexican and Brazilian poultry businesses to JBS SA, the world's No. 1 meat producer, for $575 million. The company said it would use proceeds from the sale to pay down debt associated with its $7.7 billion acquisition of Hillshire Brands Co, which is expected to close in the current quarter.
July 28- Tyson Foods Inc, the biggest U.S. meat processor, said it would sell its Mexican and Brazilian poultry businesses to Pilgrims Pride Corp parent JBS SA for $575 million. Tyson, which also reported a 10.9 percent rise in quarterly sales, said it would use the sale proceeds to pay down debt associated with its $7.7 billion acquisition of Hillshire Brands Co..
A crush of big cap earnings and arguably the most important economic reports until September make next week the busiest of the summer for markets.
Tyson outbid Pilgrim's Pride Corp with its $63 per share offer for Hillshire, valuing the Jimmy Dean sausages maker at $8.55 billion. The Cherokee plant will close on Sep. 27, while the Buffalo and Santa Teresa plants are expected to stop operating in the first half of 2015, the company said.
The Cherokee, Iowa, plant will close on Sep. 27, while the Buffalo, New York, and Santa Teresa, New Mexico plants are expected to cease operations in the first half of 2015, the company said.
Food industry M&A is ramping up, and pros say there's a lot more action ahead. Who's next?
Aviagen Group's standard Ross male breed is sire to up to 25 percent of the nation's poultry, and its infertility is a problem for prices.
Some of the names on the move ahead of the open.
June 25- A Nebraska lawyer is trying to breathe life into an old-fashioned antitrust movement with a campaign for the U.S. Senate based partly on breaking apart the country's biggest banks and blocking consolidation among meatpackers. Rural, agriculture-heavy Nebraska rarely sends Democrats to Congress.
June 16- Hillshire Brands Co said it will withdraw its recommendation to its shareholders to vote for its acquisition of Pinnacle Foods Inc, following Tyson Foods Inc's offer to buy Hillshire. Hillshire said it does not have the right to terminate the merger agreement with Pinnacle Foods on the basis of the Tyson Foods offer.