CHICAGO, Ill (WIBW)-- Tyson Foods wins bidding war for Hillshire Brands.
According to the Chicago Tribune, Tyson Foods Inc. won the bidding battle, agreeing to pay 7.8 billion dollars in a deal that will bolster its efforts in the rapidly growing breakfast segment.
The offer was finalized Sunday according the Chicago Tribune, surpassed a bid from rival Pilgrim's Pride Corporation by almost 1 billion dollars.
Sara Lee, Jimmy Dean and Oscar Meyer all fall under the Hillshire Brand.
Tyson has food plants in Hutchinson, Emporia and Garden City.
Shareholders still have to vote on the deal.
Posted by Greg Palmer.