05 September 1997
Tyson secures Hudson in $650m deal

TYSON Foods of Arkansas, USA, is to buy Hudson Foods, which was blighted after an E.Coli outbreak last month.

They have agreed to a cash and shares swap. This will value Hudson at about $650 million (£410m). Both companies fell short of attributing the deal directly to the recall of 11.34 million kg (25m 1bs) of ground beef.

Hudson has agreed to sell its Nebraska plant, which produced the contaminated beef, to IBP.

Tyson said it was too early to decide whether it would keep other Hudsons non-poultry assets, including eggs, turkey and portion meat.

  • Financial Times 05/09/97 page 15 (Observer), page 22
  • The Daily Telegraph 05/09/97 page 28