NEW YORK (TheStreet) -- Tyson Foods Inc. (TSN) has won the bidding war for Hillshire Brands Co. (HSH) and will purchase all outstanding shares of the company for $8.55 billion in cash, or $63 per share.
Tyson Foods has been looking to grow its prepared foods business, and says the acquisition of Hillshire will give the company the top two brands "in numerous categories."
Tyson is expecting the transaction to be "marginally accretive to EPS on a cash basis in the first full fiscal year" following the completion of deal, the company said.
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Shares of Tyson Foods are down -4.44% to $38.34 today.
Separately, TheStreet Ratings team rates TYSON FOODS INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate TYSON FOODS INC (TSN) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and reasonable valuation levels. We feel these strengths outweigh the fact that the company shows weak operating cash flow."