The cash offer of $45 per share represents a premium of about 22 percent to Hillshire's Friday closing. Hillshire shares were trading slightly above the offer at $45.35 in premarket trading, suggesting that some investors were expecting a higher offer. Pilgrim's shares were down 3.4 percent. Pilgrim's offer comes days after Hillshire, known for its Jimmy Dean sausages and Hillshire lunch meats, offered to buy Pinnacle Foods Inc in a $4.3 billion deal.
via Business News - Yahoo Finance http://ift.tt/Sbhj18
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