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Tysona¿¿s Tops Pilgrim's Pride in Hillshire Brands Battle

TheStreet

The slugfest is over, and Tyson's Foods is officially the winner. The Arkansas food production company will walk away the winner from the auction for Hillshire Brands, striking a deal at $63 a share over the weekend. Competing bidder Pilgrim's Pride abandoned its efforts, having topped out at $55 a share. Hillshire will have to give up a deal to buy Pinnacle Foods, a recent successful IPO, that could leave Pinnacle in play. But, elsewhere in the food sector, deals have been heating up, and organic M&A targets abound as well. So far in 2014, private equity and strategic bidders alike have been interested in a good meal. The Deal's Sarah Pringle and Jon Marino have details in Merger Talk from the floor of the NYSE.