Tyson Foods (TSN) To Offer 20M Shares, $450M In Conv Notes; Founder To Buy 3M Shares
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Tyson Foods, Inc. (NYSE: TSN) intends to offer 20 million shares of its Class A common stock in a registered underwritten public offering. Tyson intends to grant the underwriters an option to purchase up to an additional 3 million shares of its Class A common stock to cover over-allotments, if any.
An entity controlled by Don Tyson, the Company's former Chairman and current director, has indicated it intends to purchase 3 million shares in the offering of Class A common stock.
Concurrently with the offering of Class A common stock, Tyson also intends to offer, subject to market and other conditions, $450 million aggregate principal amount of its convertible senior notes due 2013 in a registered underwritten public offering.
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