Holly Farms OKs Tyson’s Buyout Offer: Holly...

Holly Farms OKs Tyson’s Buyout Offer: Holly Farms Corp.’s directors have accepted rival Tyson Foods Inc.’s $1.4-billion buyout offer and agreed to pay Conagra Inc. to drop out of the bidding. Under terms of the agreement, Conagra will receive $50 million to end a previous merger pact with Holly Farms. The Memphis-based poultry processor will pay a $20-million termination fee; Conagra will receive the remaining $30 million when Tyson completes its purchase of Holly Farms stock.