Tyson Foods and Hillshire Win Antitrust Clearance for Merger

28 Aug 2014 --- Tyson Foods, Inc. and The Hillshire Brands Company have announced that, in connection with the review of Tyson's proposed acquisition of Hillshire Brands by the Antitrust Division of the U.S. Department of Justice (DOJ), Tyson and Hillshire Brands have agreed with the DOJ upon a proposed settlement which has been filed in the U.S. District Court for the District of Columbia.

The settlement is subject to approval by the court under the traditional procedures set forth in the AntiTrust Procedures and Penalties Act.

Tyson expects that it will shortly receive termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended ("HSR Act"). At that point, the applicable condition to Tyson's previously announced tender offer to purchase all of the outstanding shares of common stock of Hillshire Brands for $63.00 per share in cash subject to the conditions set forth in the Offer to Purchase dated July 16, 2014 (the "Offer") with respect to expiration or termination of the waiting period under the HSR Act will be satisfied.

The Offer is scheduled to expire at 12:00 midnight, New York City time, at the end of Wednesday, August 27, 2014, unless it is extended further under the circumstances set forth in the Merger Agreement.