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Merger Monday: Record Highs And A Few Crumbs
Article By:
Marvin R Clark
Monday, June 9, 2014 8:34 PM EDT
Today had all the signs of a bull market, in addition to record highs, we had a good old fashioned Merger Monday. Tyson foods agreed to buy Hillshire; Drugmaker Merck paid $3.9 billion for Idenix Pharmaceuticals, a 240% premium; Chipmaker Analog Devices agreed to buy Hittite Microwave Corp.
The Bidding War For Hillshire Is Bad For Investors
Article By:
David Trainer
Thursday, May 29, 2014 3:05 PM EDT
Poultry producer Pilgrim’s Pride (PPC: $25/share) made news on Monday by announcing an unsolicited offer of $45/share for Hillshire Brands (HSH: $52/share), a 22% premium to where HSH had closed on Friday. The deal had a total value of ~$6.5 billion.