Tyson Ordered to Complete IBP Merger
Jun 15, 2001 12:00 PM, Refrigerated Transporter Staff
Although an appeal is expected, Tyson Foods has been ordered to complete its cancelled merger with IBP. The ruling was made by Deleware Chancery Court Judge Leo E Strine Jr. Tyson recently backed out of a merger agreement with IBP citing financial problems at an IBP subsidiary. A completed merger would produce a company that produces more poultry than any other in the world as well as one of the single largest beef and pork producers in the US. The only alternative to completing the merger would be an award of extremely large damages to IBP, the court said.
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