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Conagra Inc

BUSINESS
June 24, 1989
Holly Farms OKs Tyson's Buyout Offer: Holly Farms Corp.'s directors have accepted rival Tyson Foods Inc.'s $1.4-billion buyout offer and agreed to pay Conagra Inc. to drop out of the bidding. Under terms of the agreement, Conagra will receive $50 million to end a previous merger pact with Holly Farms. The Memphis-based poultry processor will pay a $20-million termination fee; Conagra will receive the remaining $30 million when Tyson completes its purchase of Holly Farms stock.
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BUSINESS
January 7, 1989
So the government has decided that many military bases are to be closed. No thought to the fact that entire cities will be financially ruined! Hundreds of thousands of lives will be devastated! But believe it, members of Congress will see to it that they get their 50% pay raise, their extravagant expense accounts, their overseas vacations, their income-tax exemptions, their limos, their pensions. . . . So what else is new? LORRAINE MARTIN Cypress
BUSINESS
December 1, 1988 | Associated Press
Tyson Foods Inc. on Wednesday sweetened its buyout offer for Holly Farms Corp. but made completion of the deal contingent on the termination of Holly Farms' merger with ConAgra Inc. The nation's biggest poultry processor boosted its cash tender offer to $54 a share, or about $1.1 billion for Holly Farms' 20.4 million outstanding common shares and equivalents, from $52 a share, or about $1.06 billion. Tyson stated in a letter to the board of Memphis, Tenn.
BUSINESS
November 26, 1988 | Associated Press
A federal judge has ruled that Tennessee's anti-takeover laws are unconstitutional and cannot be used to stop Tyson Foods' bid to buy out Holly Farms. "These acts violate the commerce clause of the U.S. Constitution to the extent they apply to target corporations organized under the laws of states other than Tennessee," U.S. District Judge Thomas A. Wiseman wrote in a memorandum. Wiseman on Wednesday enjoined the state from enforcing the laws to prevent a takeover of Holly Farms.
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