Hillshire Plans Talks
Tue Jun 3, 2014 07:32 AM CDT

(Dow Jones) -- Hillshire Brands Co. on Tuesday said it would hold separate talks with Pilgrim's Pride Corp. and Tyson Foods Inc., who have each offered to buy the maker of Jimmy Dean sausage and Sara Lee desserts.

Hillshire's shares jumped 7.9% to $57.79 in recent premarket trading as investors digested the latest developments.

Hillshire's announcement comes after The Wall Street Journal reported Monday night that Pilgrim's Pride had raised its bid for Hillshire to $55 a share, topping Tyson's $50-a-share offer. Pilgrim's Pride, a unit of Brazilian meat company JBS SA, had initially offered $45 a share for Hillshire ...

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