Hillshire Brands Co (HSH) Merges with Tyson Foods, Inc. (TSN); GAMCO Closes Position

In a newly amended filing with the U.S. Securities and Exchange Commission, GAMCO Investors, managed by Mario Gabelli, has disclosed the closing of its position in Hillshire Brands Co (NYSE:HSH). According to the filing, GAMCO no longer hold stake in Hillshire Brands Co (NYSE:HSH), as the company now merged with Tyson Foods, Inc. (NYSE: TSN). Previously, GAMCO held around 3.19 million shares of the company’s common stock.

Mario Gabelli

Hillshire Brands Co (NYSE:HSH) is engaged in manufacturing of food products, and has a market cap of $7.8 billion. At the end of last month, both Hillshire Brands Co (NYSE:HSH) and Tyson Foods, Inc. (NYSE: TSN) announced the completion of their merger, resulting in creation of a single company with more than $40 billion in annual sales and a portfolio that includes recognized brands.

Hillshire Brands Co (NYSE:HSH) common stock shares, in connection with the merger, were delisted and ceased trading on the New York Stock Exchange and Chicago Stock Exchange before the opening of the respective markets on August 29, 2014.

The new company will be led by a new team, which has been selected and includes a mix of existing senior leaders from both companies. Andy Callahan, former president of Hillshire Brands Co (NYSE:HSH) retail business, has been named to manage all retail consumer brands. Sally Grimes, former chief innovation officer and president of Hillshire Brands Co (NYSE:HSH) Gourmet Food Group, will be responsible for leading will lead Tyson Foods, Inc. (NYSE: TSN) innovation, sales and global brand strategy teams.

In its latest 13F, York Capital Management, led by James Dinan, reported holding 4.99 million shares of Hillshire Brands Co (NYSE:HSH). Another investor, Paulson & Co, managed by John Paulson, revealed ownership of 3.43 million shares of the company.

At the end of last month, GAMCO disclosed a steep increase in its exposure to OMNOVA Solutions Inc. (NYSE:OMN), to 2.64 million shares of the company, held together with other affiliated fund, which account for more than 5.5% of the company’s common stock. In the latest round of filings, GAMCO disclosed its most recent moves, including upping its stake in Chemtura Corp (NYSE:CHMT) and Gentiva Health Services, Inc. (NASDAQ:GTIV).

In a program on CNBC last month, Mario Gabelli has said that both Time Warner Inc (NYSE:TWX) and Twenty-First Century Fox Inc (NASDAQ:FOX) are on track to bring excellent shareholder value over the next five years, with the stock doubling its price. According to Gabelli, Time Warner Inc (NYSE:TWX) will be worth $130 per share, while Twenty-First Century Fox Inc (NASDAQ:FOX) stock will jump to $65 in the next five years.

Disclosure: none

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top 6 Tax Scams and How to Protect Yourself

Top Businesses to Invest In

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!