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Tyson Makes Premium Bid for Hillshire, Outbids Pilgrim's Pride

Tyson Foods scratches out Pilgrim's Pride offer for Hillshire Farms as it has made a $50 a share all cash bid for the sausage maker. Tyson Foods bid is a premium to Pilgrim's $45 a share bid for Hillshire that it made earlier this week. Left out in the cold once again is Pinnacle Foods. Hillshire had agreed to acquire Pinnacle to try to fend off any unwanted acquirers. Hillshire investors are licking their chops at the deal as the stock continues to move higher as the bidding war continues. Tyson stock is also jumping, while Pinnacle and Pilgrim's stock drops on the news.