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

The 10 Countries with the Highest Suicide Rates

The 10 Most Technologically Advanced Countries in the World

The 10 Safest Countries in the World to Live in Peace

The 10 Top Selling Smartphones in the World 2014

The 12 Biggest Shopping Centers in the World

The 10 Friendliest Countries in the World

Qihoo 360 Technology Co Ltd (QIHU), Actavis plc (ACT), Yahoo! Inc. (YHOO) Among 20 Long Ideas from Sohn Canada

The 10 Laziest Countries in the World

The 10 Most Polluted Countries in the World

The 10 Most Dangerous Cities in America 2014

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

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!