| |
| | CNN.com - Tyson, IBP resume talks on $3.2B merger - Jun. 18, 2001 |
 | | While Tyson stock dropped, news of the negotiations had a positive effect on shares of Dakota Dunes, S.D.-based IBP (IBP: up $5.98 to $24.25, Research, Estimates), which surged more than 32 percent in afternoon trading. |
 | | Tyson tried in March to back out of a deal to buy IBP, the No. 1 U.S. beef producer, for $30 a share, or $3.2 billion, citing numerous breaches of IBP's merger agreement, including alleged accounting irregularities at an IBP subsidiary. |
 | | But IBP sued to force the merger to proceed, and the Delaware Chancery Court ruled Friday that Tyson must meet its agreement to buy IBP. |
| edition.cnn.com /2001/BUSINESS/06/18/tyson (751 words) |
|