NEW YORK (AP) — Pilgrim’s Pride launched a takeover bid for Hillshire Brands on Tuesday that would expand its business beyond fresh and frozen chicken into a variety of packaged meats, including Ball Park hot dogs and Jimmy Dean sausages.
The $5.58 billion offer could derail Hillshire’s plans to buy Pinnacle Foods, which makes Birds Eye frozen vegetables, Duncan Hines cake mixes and Hungry Man frozen dinners. Hillshire had announced the $4.23 billion deal earlier this month as a way to expand into different parts of the supermarket.
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