Topic: Growth Stocks

Wall Street Stock Forecaster Hotline – Friday, June 6, 2014

Article Excerpt

HILLSHIRE BRANDS CO., $58.92, New York symbol HSH, continues to attract new 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. The stock jumped 11% this week after Pilgrim’s Pride Corp. (Nasdaq symbol PPC) offered to buy the company for $55.00 a share. That topped last week’s $50.00-a-share bid by Tyson Foods (New York symbol TSN). These 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. Hillshire’s shareholders would have to vote down the Pinnacle deal before the company could sign a new takeover deal with Pilgrim’s Pride or Tyson. That puts Pinnacle in a strong position to demand a higher breakup fee. Under the original agreement, Hillshire agreed to…