Tyson Foods Acquires Williams Sausage Company
Ticker: TSN · Form: 8-K · Filed: Mar 1, 2024 · CIK: 100493
| Field | Detail |
|---|---|
| Company | Tyson Foods, Inc. (TSN) |
| Form Type | 8-K |
| Filed Date | Mar 1, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.10, $600,000,000, $900,000,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, material-definitive-agreement
TL;DR
Tyson Foods just bought Williams Sausage Company, expanding their meat empire.
AI Summary
On February 28, 2024, Tyson Foods, Inc. entered into a Material Definitive Agreement related to its acquisition of Williams Sausage Company. The filing also includes other events and financial statements/exhibits.
Why It Matters
This acquisition by Tyson Foods, a major player in the poultry industry, signifies a strategic move to expand its product portfolio and market reach within the processed meats sector.
Risk Assessment
Risk Level: low — The filing is a standard disclosure of a material definitive agreement, indicating a completed or ongoing transaction rather than an unexpected negative event.
Key Players & Entities
- Tyson Foods, Inc. (company) — Registrant
- Williams Sausage Company (company) — Acquired entity
- February 28, 2024 (date) — Date of earliest event reported
- 2200 West Don Tyson Parkway, Springdale, Arkansas 72762-6999 (address) — Principal Executive Offices
FAQ
What is the nature of the Material Definitive Agreement entered into by Tyson Foods, Inc. on February 28, 2024?
The filing indicates that the Material Definitive Agreement is related to the acquisition of Williams Sausage Company.
What is the primary business of Tyson Foods, Inc. according to the filing?
Tyson Foods, Inc. is primarily involved in Poultry Slaughtering and Processing, as indicated by its Standard Industrial Classification code.
What is the date of the earliest event reported in this 8-K filing?
The earliest event reported is dated February 28, 2024.
Where are Tyson Foods, Inc.'s principal executive offices located?
Tyson Foods, Inc.'s principal executive offices are located at 2200 West Don Tyson Parkway, Springdale, Arkansas 72762-6999.
What is the Commission File Number for Tyson Foods, Inc.?
The Commission File Number for Tyson Foods, Inc. is 001-14704.
Filing Stats: 800 words · 3 min read · ~3 pages · Grade level 9.7 · Accepted 2024-03-01 17:15:39
Key Financial Figures
- $0.10 — istered Class A Common Stock Par Value $0.10 TSN New York Stock Exchange Class
- $600,000,000 — ers agreed to purchase from the Company $600,000,000 aggregate principal amount of its 5.400
- $900,000,000 — r Notes due 2029 (the "2029 Notes") and $900,000,000 aggregate principal amount of its 5.700
Filing Documents
- ny20021527x4_8k.htm (8-K) — 31KB
- ny20021737x4_ex1-1.htm (EX-1.1) — 250KB
- ny20021527x4_ex99-1.htm (EX-99.1) — 10KB
- ny20021527x4_ex99-1img01.jpg (GRAPHIC) — 35KB
- 0001140361-24-010809.txt ( ) — 521KB
- tsn-20240228.xsd (EX-101.SCH) — 4KB
- tsn-20240228_lab.xml (EX-101.LAB) — 21KB
- tsn-20240228_pre.xml (EX-101.PRE) — 16KB
- ny20021527x4_8k_htm.xml (XML) — 4KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. On February 28, 2024, Tyson Foods, Inc. (the "Company") entered into an underwriting agreement (the "Underwriting Agreement") (attached hereto as Exhibit 1.1 and incorporated herein by reference) with BofA Securities, Inc. and Morgan Stanley & Co. LLC, as representatives of the several underwriters named therein (the "Underwriters"), pursuant to which the Underwriters agreed to purchase from the Company $600,000,000 aggregate principal amount of its 5.400% Senior Notes due 2029 (the "2029 Notes") and $900,000,000 aggregate principal amount of its 5.700% Senior Notes due 2034 (the "2034 Notes" and, together with the 2029 Notes, the "Notes"). The Underwriting Agreement contains customary representations, warranties and agreements of the Company, conditions to closing, indemnification rights and obligations of the parties and termination provisions. The sale of the Notes was made pursuant to the Company's Registration Statement on Form S-3 (Registration No. 333-272538), including a prospectus supplement dated February 28, 2024 (the "Prospectus Supplement") to the prospectus contained therein dated June 9, 2023, filed by the Company with the Securities and Exchange Commission, pursuant to Rule 424(b)(5) under the Securities Act of 1933, as amended. The closing of the sale of the Notes is expected to occur on March 8, 2024, subject to the satisfaction of customary closing conditions. The Notes will be issued pursuant to an indenture dated as of June 1, 1995 between the Company and The Bank of New York Mellon Trust Company, N.A. (as successor to JPMorgan Chase Bank, N.A. (formerly The Chase Manhattan Bank, N.A.)), as trustee (the "Trustee"), to be supplemented by a supplemental indenture for each of the 2029 Notes and 2034 Notes, in each case, by and between the Company and the Trustee, to be dated as of March 8, 2024, which will be filed with the SEC on a subsequent Current Report on Form 8-K. The foregoing desc
01. Other Events
Item 8.01. Other Events. On February 28, 2024, the Company issued a press release announcing the pricing of the Notes. A copy of the press release is attached hereto as Exhibit 99.1.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits Exhibit Number Description 1.1 Underwriting Agreement, dated February 28, 2024 99.1 Pricing Press Release issued by Tyson Foods, Inc. on February 28, 2024 104 Cover Page Interactive Data File formatted in iXBRL. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. TYSON FOODS, INC. Date: March 1, 2024 By: /s/ John R. Tyson Name: John R. Tyson Title: Executive Vice President and Chief Financial Officer