Tyson Foods (TSN) announced Thursday morning that it offered to acquire Hillshire Brands (HSH) for $50 per share in cash. The offer price is more than the $45 per share that Pilgrim's Pride offered for Hillshire.
Hillshire Brands gapped open dramatically higher Thursday and rose further around mid-morning. Shares finished with a gain of 7.95 at $52.76 on strong volume. The stock soared to a new high for the year.
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