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Article: Tyson Foods Promises to Keep IBP Ties to Independent Livestock Growers.(Knight Ridder/Tribune Business News)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- December 25, 2000
- Author:
CopyrightCOPYRIGHT 2000 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Dec. 21--Tyson Foods Inc. is raising the stakes in the three-way battle to take over IBP Inc.
John Tyson, the company's top executive, hasn't offered more money. He hasn't offered more stock.
He has offered his word -- a personal assurance to independent livestock growers that Tyson Foods won't shift production of cattle and hogs to company-owned operations.
Tyson's assurance is a new tactic in his company's bid to acquire IBP, the world's largest beef producer and second-largest pork producer. It is competing against Smithfield Foods Inc. and a group of investors including IBP executives to buy the Dakota Dunes, S.D.-based company with $14.1 ...