Tyson, Hillshire Reach Agreement With Dept Of Justice - Quick Facts

(RTTNews) - Tyson Foods Inc (TSN) and Hillshire Brands Co (HSH) Wednesday announced that, in connection with the review of Tyson's proposed acquisition of Hillshire by the Antitrust Division of the U.S. Department of Justice, Tyson and Hillshire have agreed with the DOJ upon a proposed settlement which has been filed today in the U.S. District Court for the District of Columbia.

The settlement is subject to approval by the court under the traditional procedures set forth in the Antitrust Procedures and Penalties Act.

Tyson expects that it will shortly receive termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.

In July, Springdale, Arkansas-based Tyson Foods agreed to acquire Hillshire for $63 per share, or about $8.55 billion, including outstanding debt, eliminating a rival bid from chicken products maker Pilgrim's Pride (PPC).