Benzinga's M&A Chatter for Thursday May 29, 2014

The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday May 29, 2014: Tyson Offers $50.00/Share in Cash to Acquire Hillshire Brands The Offer:
Tyson Foods TSN announced Thursday that it proposes to acquire Hillshire Brands HSH for $50.00 per share in cash. Tyson says it has secured a fully committed bridge facility from Morgan Stanley Senior Funding. Tyson's offer compares with the bid of $45.00 from Pilgrim's Pride PPC, announced on May 27. Hillshire responded to the Tyson offer, saying it would be thoroughly reviewed. Pligrim's Pride stated the company was "currently considering its options with respect to Hillshire and will update the markets in due course." Hillshire Brands shares gained more than 17% Thursday, to close at $52.76. Tyson Foods closed at $43.25, a gain of 6%, while Pilgrim's Pride lost 1% to close at $25.09. Hearing SanDisk Hires Adivsers to Handle Potential Bids The Rumor:
Shares of SanDisk SNDK moved higher Thursday, on unconfirmed market chatter the company had hired advisers to handle offers from potential acquirers. According to the report, offers are rumored in the $108-$112 range. A spokesperson for SanDisk was not available for comment. SanDisk closed Thursday at 96.91 a gain of $0.58. Report Sprint Purchase of T-Mobile Approved by Deutsche Telekom The Rumor:
Japan's Kyodo News reports Deutsche Telekom DTEGY has approved the proposed acquisition of T-Mobile US TMUS by Sprint S owner Softbank SFTBF, according to sources. T-Mobile closed Thursday at $34.86, a gain of more than 1%. Sprint ended the day, 2.5% higher at $9.44. Signet Jewelers Completes Acquisition of Zale for $21.00/Share in Cash The Completion::
Signet Jewelers SIG announced Thursday that it has completed the acquisition of Zale for $21.00 per share in cash, for a total consideration of $1.46 billion, The transaction was approved by a majority of Zale's stockholders earlier today. Signet Jewelers closed Thursday at $108.37, a gain of 3.5%.