The Hillshire Brands Company (NYSE: HSH) shares hit a new 52-week high after Pilgrim's Pride Corporation offered to buy the company for $6.4 billion. Pilgrim's Pride is the nation's second largest poultry producer. The proposal is an all-cash buyout at $45 a share. Hillshire agreed to buy Pinnacle Foods two weeks ago.
The Hillshire Brands Company manufactures and markets meat-centric food solutions worldwide. It operates in two segments, Retail and Foodservice/Other. The company provides various packaged meat and frozen bakery products that include hot dogs and corn dogs, breakfast sausages, breakfast sandwiches and bowls, dinner sausages, premium deli and luncheon meats, and cooked hams, as well as frozen pies, cakes, pastries, muffins, cheesecakes, and other desserts; and pork, beef, and poultry products.
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Spherix Incorporated (NASDAQ: SPEX) shares doubled on Tuesday after the U.S. Senate and Senate Judiciary Committee Chairman Patrick Leahy removed a patent reform bill from the committee's calendar due to a lack of bipartisan support. According to Spherix's press release, Leahy, a Democrat, said many of the proposals in the bill would place too much of a burden on "legitimate patent holders who employ thousands of Americans.” "The removal of this bill from the Senate Judiciary Committee schedule should remove some of the uncertainty which has been clouding our industry," said Spherix CEO Anthony Hayes. "Spherix is committed to responsibly protecting the patents it owns, and we remain eager to work with companies large and small to reach fair agreements."
Spherix Incorporated operates as an intellectual property company that owns patented and unpatented intellectual properties. The company owns approximately 330 patents and patent applications. Its patent portfolio includes the U.S. and foreign patents and pending patent applications in the wireless communications and telecommunication sectors, including data, optical and voice technology, antenna technology, Wi-Fi, base station functionality, and cellular, as well as patents related to artificial sweetener and prescription refill technology.
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