Tyson wins bidding war for Hillshire Brands

Tyson Foods Inc. (NYSE: TSN) won the bidding war for The Hillshire Brands Co. (NYSE: HSH) with a sweetened offer valued at approximately $8.55 billion including the assumption of debt prompting Pilgrim’s Pride Corp. (Nasdaq: PPC) to withdraw its offer. Shares of Tyson Foods plunged $2.62 to close at $37.50 while Hillshire Brands stock soared $3.14 to close at $62.06. Pilgrim’s Pride stock tumbled $1.76 to close at $24.51.