Tyson Foods has commenced a cash tender offer for all outstanding shares of common stock of The Hillshire Brands Company at a price of $63.00 per share. The tender offer is being made pursuant to the previously announced merger agreement dated July 1, among the two companies.
The tender offer period will expire at midnight Aug. 12.
According to a news release, Tyson Foods has filed a tender offer statement on Schedule TO with the United States Securities and Exchange Commission. Its subsidiary, HMB Holdings, is the acquirer in the tender offer.
Following successful completion of the tender offer, any outstanding shares will be acquired in a second-step merger at the same $63 per share cash price.