U.S. stocks advanced, with the Standard & Poor’s 500 Index extending a record, after durable goods orders unexpectedly rose and JBS SA offered to buy Hillshire Brands Co. for $6.4 billion.
Sara Lee Corp. , the maker of Jimmy Dean foods, provided a fourth-quarter earnings forecast that trailed analysts’ estimates as it increases marketing spending and commodity costs rise.
Jimmy Dean, meet Mrs. Butterworth.
U.S. stocks rose, with benchmark indexes extending records, as small-cap shares rallied and Family Dollar Stores Inc. advanced with Analog Devices Inc. amid deals activity.
Tyson Foods Inc., the largest U.S. meat company, agreed to buy Hillshire Brands Co. after outbidding Pilgrim’s Pride Corp. to gain control of the maker of Jimmy Dean sausages and Ball Park hot dogs, two people with knowledge of the matter said.
JBS SA is running out of consolation prizes.
Davis Polk & Wardwell LLP advised Tyson Foods Inc., the largest U.S. meat company, on its raised offer for Hillshire Brands Co. of about $7.7 billion, outbidding Pilgrim’s Pride Corp.
Bernstein’s Howard Says Tyson, Hillshire ‘Makes Sense’(Audio)