Navigate this market better. Subscribe for FREE stock alerts and information.

Wednesday, August 27, 2014

Tyson wins antitrust nod for Hillshire deal - U.S. Justice Dept, (NYSE: TSN)

Tyson Foods Inc, the largest U.S. meat processor, won U.S. antitrust approval for its purchase of Hillshire Brands Co, the Justice Department said on Wednesday.The companies agreed to sell Heinold Hog Markets, which purchases sows that are sold to sausage-makers, to win approval for the $8.5 billion deal, the department said.The attorneys general of Illinois, Iowa and Missouri, all big hog producing states, joined the settlement that the companies reached with the Justice Department's Antitrust Division."Today's proposed settlement will help ensure that hog breeders in the United States will continue to receive the benefits of vigorous competition when selling sows," said Bill Baer, assistant attorney general for Antitrust Division.

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 traded higher by 1.28% or $0.475/share to $37.62. In the past year, the shares have traded as low as $27.33 and as high as $44.24. On average, 5226050 shares of TSN exchange hands on a given day and today's volume is recorded at 2899410.