Tyson secures Hudson in $650m deal

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.