Tyson wins food fight for Hillshire; Apple splits; A cup of coffee will cost more
The food fight for Hillshire Brands (HSH) has been won. Tyson Foods's bid (TSN) of $63 dollars a share for the maker of Jimmy Dean sausages topped Pilgrim’s Pride (PPC), who said it would not increase its bid of $55 dollars a share it made last week to buy the company.
Apple (AAPL) shares closed at about $646 on Friday, but don't be alarmed as the stock trades much lower today. The company’s stock split 7-to-1 after Friday’s close, bringing the stock under $100 a share. It's Apple first stock split since 2005.
Over the weekend, Kraft Foods (KRFT) said it will raise the prices of its Maxwell House and Yuban Brands by 10%. It comes after J.M. Smucker (SJM) said last week it will raise coffee prices for its Folgers and Dunkin' Donuts coffee products by 9%. It should be no surprise since Arabica bean prices are up 55% this year. While they’ve come down from their two-year peak of about $2.15 a pound in April, those higher prices are just hitting consumers now.
This brings us to today's poll question. Are you going to cut back on your cup of joe because of higher coffee prices? Vote in our poll, or leave a comment below or on Twitter.
