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Wednesday, August 27, 2014

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

Tyson Foods Inc, the largest U.S. meat processor, on Wednesday won U.S. antitrust approval for its $8.5 billion purchase of Hillshire Brands Co .To win approval for the merger, the companies agreed to sell Heinold Hog Markets, the U.S. Department of Justice said. The attorneys general of Iowa, Illinois and Missouri, all big hog-producing states, joined the settlement."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 DOJ's antitrust division.The two companies combined purchase about 35 percent of all sows sold in the United States.

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 1.52% or $0.565/share to $37.71. 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 4977321.