I'm not even sure that the Pilgrim's bid would have been that high when things sorted themselves out. They are owned by JBS and the financing for the deal was shaky at best. Tyson could probably have bought HSH at $50 a share if they had gone about it in a friendly manner. I don't believe this deal will ever come close to paying for itself, not sure that any price north of $40 would have been one that would have had a positive return on it. I do know that this buy out wiped out $8 a share of stock value and stopped the upward trend in share price for the rest of this year if not longer.
It's like Congress throwing more money at the Pentagon, i.e., big defense contractors. It's not their money, so who cares. What, $2 trillion goes missing (actually I think it turned out to be even more) ? -- No problema ! Wring taxpayers for more !