(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 ...