Tyson Foods ($TSN) will acquire Hillshire Brands ($HSH) for $7.7 billion, a 70% premium to Hillshire’s closing price on May 9 (last traded price before it announced it would acquire Pinnacle Foods).  However, the merger between Pinnacle and Hillshire did not go through due to criticism from analysts and investors. This resulted in a bidding war between Tyson and Pilgrim Pride ($PPC) over Hillshire. The bidding war ended with Tyson offering $63 per share- $8 more than what Pilgrim Pride offered. The acquisition of Hillshire Brands will ensure a better position in the supermarket aisle. - Link