Hillshire Brands may have to pay Tyson Foods a US$261.3M break fee if it agrees to Tyson's acquisition proposal and then rejects it for a higher bid
June 11, 2014
– Hillshire Brands Co., the target of a takeover offer from Tyson Foods Inc., may have to pay a $261.3 million break fee if it agrees to the deal and then rejects it for a higher bid from elsewhere.
Under certain circumstances, Chicago-based Hillshire might also have to reimburse Tyson for $163 million for the termination of Hillshire’s planned acquisition of Pinnacle Foods Inc.
Tyson, which is based in Springdale, Arkansas, commented on the potential fees in a filing today.
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