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Hillshire, Tyson announce $8.5B merger

FILE - This file phocombo shows package frozen TysChicken Nuggets left package Hillshire Farm sausage Palo AlCalif. Meproducer TysFoods Inc.

FILE - This file photo combo shows a package of frozen Tyson Chicken Nuggets, left, and a package of Hillshire Farm sausage, in Palo Alto, Calif. Meat producer Tyson Foods Inc. has won a bidding war for Hillshire Brands, the maker of Jimmy Dean sausages and Ball Park hot dogs, with a $63 per share offer, the companies announced Monday, June 9, 2014. (AP Photo/Paul Sakuma, File)

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Updated: July 2, 2014 9:39PM

Hillshire Brands Co. and Tyson Foods Inc. on Wednesday announced they have entered into a definitive agreement under which Tyson Foods will acquire all outstanding shares of Hillshire Brands for $63 per share. The all-cash transaction is valued at $8.55 billion, including Hillshire Brands’ outstanding net debt.


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