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Monday, July 28, 2014

Tyson to sell Mexican and Brazilian poultry businesses, (NYSE: TSN)

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.Net income attributable to Tyson rose 4.4 percent to $260 million, or 73 cents per share, in the third quarter ended June 28, from $249 million, or 68 cents per share, a year earlier.Revenue rose to $9.68 billion from $8.73 billion.

Tyson Foods, Inc. is a food production company. The Company produces, distributes and markets chicken, beef, pork, prepared foods and related allied products. Shares of TSN fell by 0.58% or $-0.23/share to $39.54. In the past year, the shares have traded as low as $26.97 and as high as $44.24. On average, 4385680 shares of TSN exchange hands on a given day and today's volume is recorded at 2295249.