Topic: Growth Stocks

Wall Street Stock Forecaster Hotline – Friday, May 30, 2014

Article Excerpt

HILLSHIRE BRANDS CO., $53.28, New York symbol HSH, jumped 18% this week in response to two hostile takeover offers. The company makes a variety of packaged meat products. Its main brands include Ball Park hot dogs, Jimmy Dean sausages and Hillshire Farm deli meats. Other foods include Sara Lee frozen desserts and Chef Pierre pies. On Tuesday, rival food producer Pilgrim’s Pride Corp. (Nasdaq symbol PPC) offered to acquire Hillshire for $45.00 a share. That was followed by a $50.00-a-share bid by Tyson Foods (New York symbol TSN) on Thursday. Both offers require Hillshire to cancel its recent deal to buy Pinnacle Foods (New York symbol PF), whose main brands include Duncan Hines baking mixes, Vlasic pickles, Mrs. Butterworth’s table syrup and Birds Eye frozen dinners. The stock is trading above Tyson’s offer, which shows that investors expect a higher offer from either Pilgrim or another firm. Hillshire Brands is still a hold. Hillshire Brands was recently covered in the Wall Street Stock Forecaster Hotline for…