Latest attempted snarf: Tyson Foods said it will pay $50 a share -- $6.8 billion by Tyson's calculation -- in an all-cash proposal to acquire Hillshire Brands.
Tyson said its offer is a 35% premium to Hillshire shareholders, and, in Tyson's view, is a "superior alternative to HIllshire's announced agreement to acquire Pinnacle Foods."
Pilgrim's Pride also wants to swallow Hillshire and previously offered $6.4 billion in a takeover bid.
Hillshire's best-known brands are Jimmy Dean and Ball Park. Tyson, besides its namesake food brand, also sells IBP, Wilson, Wright and other brands of food products.
Hillshire shares zoomed on the Tyson news, up more than 14% in pre-market trading, shares selling for nearly $7 more than their previous close of $44.99.
Tyson was up about $3, trading for about $42.
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Pilgrim's Pride was down as much as 70 cents, or 2.8%, as investors envisioned it having to pay more to acquire Hillshire..
Pinnacle was off nearly $1.9%, as the acquisition offer by Hillshire threatened to evaporate. Pinnacle's marquee brands are Birds Eye frozen vegetables and Duncan Hines cake mixes.
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