The bidding war for Hillshire Brands Co could herald further deals as meat companies seek to round out their assets from farm to table in a food frenzy that accelerated after China's acquisition of Smithfield Foods a year ago.The deals also are being fueled by Americans' increasing appetite for protein: Profit margins in chicken production have become fat even as tight supplies in the beef and pork markets have driven up prices, raising costs for producers and prompting some consumers and retailers to reach for poultry products.Global mergers and acquisition activity in the meat products sector has totaled $20.3 billion so far this year, a 98 percent increase from the same period in 2013, according to Thomson Reuters.Tyson Foods Inc on Thursday offered to purchase Hillshire Brands Co for $6.3 billion excluding debt, upstaging Pilgrim's Pride Corp's bid for the sausage company earlier in the week, in a deal that would broaden Tyson's branded supermarket food offerings.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.71% or $-0.25/share to $34.84. In the past year, the shares have traded as low as $31.38 and as high as $38.73. On average, 772062 shares of TRI exchange hands on a given day and today's volume is recorded at 741641.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 1.07% or $-0.41/share to $37.75. In the past year, the shares have traded as low as $33.08 and as high as $42.10. On average, 736795 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 809845.
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