SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
- -------------------------------------------------------------------------------
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) September 5, 1997
Hudson Foods, Inc.
(Exact name of registrant as specified in its charter)
DELAWARE 1-9050 71-0427616
(State of other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1225 Hudson Road, Rogers, Arkansas 72756
(Address of principal executive offices)
Registrant's telephone number, including area code (501)636-1100
Not Applicable
(Former name or former address, if changed since last report.)
<PAGE>
Form 8-K
Item 5. Other events.
See attached joint press release issued by Tyson Foods, Inc. and Hudson Foods,
Inc. on September 4, 1997.
<PAGE>
Joint Statement of
Tyson Foods, Inc. and Hudson Foods, Inc.
TYSON AND HUDSON TO MERGE
Springdale/Rogers, AR (September 4, 1997)--Leland Tollett, Chairman of the Board
and CEO of Tyson Foods, Inc. (NASDAQ:TYSNA) and James "Red" Hudson, Chairman of
the Board of Hudson Foods, Inc. (NYSE:HFI) announced today that the two
companies have signed a definitive agreement under which the companies would
merge in a cash and stock transaction.
Pursuant to the agreement, each share of Hudson common stock will be exchanged
for $8.40 in cash and 6/10 of a share of Tyson Foods, Inc. common stock.
"The decision to sell was not an easy one, or one that was made precipitously, "
said Mr. Hudson. "Tyson Foods has been our neighbor and friend for 25 years now.
They have made us a very good offer, and the Hudson Foods Board and I have
decided that it is in the best interest of our shareholders, associates, growers
and customers to accept. I look forward to a smooth transition, and a strong
company resulting from the merger that will be able to better serve our people
and customers."
"Hudson Foods and Tyson are a perfect fit if there ever was one," said Mr.
Tollett. "I have had great respect for Red Hudson and his management team
over the years. I am convinced that the combined strength of our two
companies will enable us to meet the demands and expectations of all our
customers, shareholders, growers and team members. All these groups will be
the ultimate beneficiaries of this merger."
The transaction is subject to certain conditions, including the receipt of the
applicable regulatory approvals, as well as approval of the Hudson Foods, Inc.
shareholders.
For further information, contact Archie Schaffer (501/290/7232) or Mary Rush
(501/290-4351) at Tyson Foods, and Becky Triplett (501/631-5274), or David
Siemens, Analyst Contact (501/631-5123) at Hudson Foods.
