Tyson Makes $7.8B Bid for Hillshire Farm

Published 06/09 2014 09:59PM

Updated 06/10 2014 08:51AM

SPRINGDALE, AR - The Springdale-based Tyson Foods is making a bid to buy Hillshire Farms.

This move could launch the brand best known for its chicken products into becoming the number two frozen food retailer in the United States.

This comes after Hillshire expressed its interest in joining Tyson, choosing between Tyson and Pilgrim's Pride over the weekend.

"We've been going through the process and late last evening, we confirmed that we were the winning bidder between the two parties," says Tyson's Prepared Foods President Donnie King.

Tyson will buy the company for $7.8 billion, almost a billion dollars more than Pilgrim's Pride's offer.

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