Dow Closes in on 17,000; Tyson to Purchase Hillshire Brands
All three main indices in the U.S. finished up today, with the Dow approaching 17,000. After weeks of fighting for Hillshire Brands (HSH) it seems like Tyson's (TSN) has won with a bid of $8.5 billion. Pilgrim's Pride (PPC) withdrew its previous bid for Hillshire on Monday. Family Dollar (FDO) announced approval for a "poison pill" today after reports were released that Carl Ichan and other investors were considering a merger with Dollar General (DG). Many investors were hoping that the U.S. would regain its pristine AAA credit rating once again, but it appears that the credit rating will remain at AA+.Standard & Poor's reaffirmed this rating last week based on the amount of U.S. debt. The U.S. lost their pristine rating in August 2011 after the damage of the financial crisis.
Word on the Street
- The Dow closes in on 17,000.
- Tyson (TSN) increases bid for Hillshire (HSH).
- Merck (MRK) to buy Idenix (IDIX) for $3.85 billion.
- Which 19 stocks are the most controversial in America?
- HP's (HPQ) layoffs will take longer than anticipated.
- Are oil prices headed for a bust?
- Icahn discloses stake in Family Dollar (FDO).
Published on Jun 9, 2014By InvestorGuide Staff