Bloomberg News

Hillshire Could Pay Tyson $261 Million in Event It Rejects Deal

June 11, 2014

Hillshire Brands Co., the target of a takeover offer from Tyson Foods Inc. (TSN:US), may have to pay a $261.3 million break fee if it agrees to the deal and then rejects it for a higher bid from elsewhere.

Under certain circumstances, Chicago-based Hillshire might also have to reimburse Tyson for $163 million for the termination of Hillshire’s planned acquisition of Pinnacle Foods Inc.

Tyson, which is based in Springdale, Arkansas, commented on the potential fees in a filing today.

To contact the reporter on this story: Simon Casey in New York at scasey4@bloomberg.net

To contact the editors responsible for this story: Simon Casey at scasey4@bloomberg.net Tina Davis


Burger King's Young Buns
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Companies Mentioned

  • TSN
    (Tyson Foods Inc)
    • $39.77 USD
    • 0.48
    • 1.21%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus