NEWS
Mon Jun 9, 2014 07:54 AM CDT

(Dow Jones) -- Tyson Foods Inc. emerged as the winner in a battle to acquire Hillshire Brands Co., offering almost a billion dollars more than rival Pilgrim's Pride Corp.'s bid last week for the maker of Jimmy Dean sausages.

Tyson offered $63 in cash per share, a bid that valued Hillshire near $7.7 billion. Pilgrim's Pride, a unit of Brazilian meatpacking giant JBS SA, withdrew its offer for Hillshire.

The process came to a head this weekend with final bids for the company being due Sunday afternoon, people familiar with the matter said.

Pilgrim's didn't raise its offer, worth $55 ...

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