Tyson Foods Completes Tender Offer For Hillshire Brands - Quick Facts

(RTTNews) - Tyson Foods Inc. (TSN) said Thursday that it has successfully completed its tender offer to purchase all of the outstanding shares of common stock of Hillshire Brands Co. (HSH) for $63.00 per share in cash, without interest. The tender offer expired on August 27, 2014.

Computershare Trust Company, N.A., the depositary for the Offer, has advised Tyson and Hillshire Brands that, as of 12:00 midnight, New York City time, at the end of August 27, 2014, about 86.99 million shares of common stock of Hillshire Brands (not including 3.66 million shares tendered by notice of guaranteed delivery for which shares have not yet been delivered) had been validly tendered and not validly withdrawn pursuant to the Offer, representing approximately 70% of Hillshire Brands' outstanding shares. All shares that were validly tendered and not validly withdrawn have been accepted for payment.

Later today, Tyson expects to complete the merger of Hillshire Brands with one of its subsidiaries, and, in connection with the merger, all remaining shares of common stock of Hillshire Brands will be converted into the right to receive $63 per share in cash, without interest, the same price that was paid in the Offer.

Following completion of the merger, Hillshire Brands will become a wholly owned subsidiary of Tyson and its shares will cease to be traded on the NYSE and the Chicago Stock Exchange.

Tyson, based in Springdale, Arkansas, is one of the world's largest processors and marketers of chicken, beef and pork. In July, the company agreed to acquire Hillshire for about $8.55 billion, eliminating a rival bid from chicken products maker Pilgrim's Pride (PPC).