Tyson Nabs Nebraska’s Tecumseh Poultry

​Microsoft grabbed major headlines last week with its acquisition of GitHub, and another large deal was completed with 3M’s sale of its communications market division to Corning. In the food space, Tyson built upon recent M&A activity with the acquisition of Nebraska-based Tecumseh Poultry.

• A week after agreeing to sell its Sara Lee frozen bakery and Van’s businesses to private equity group Kohlberg Group, Tyson Foods (NYSE: TSN) announced last Monday that it has acquired Nebraska-based Tecumseh Poultry. Tecumseh Poultry, which has plants in Tecumseh and Waverly, was founded in 1998 and produces air-chilled chicken under the Smart Chicken brand. Terms of the deal were not disclosed.

• Microsoft Corp. (NASDAQ: MSFT) reached an agreement last Monday to acquire GitHub for $7.5 billion. San Francisco-based GitHub provides a platform for software development collaboration, allowing users to review code, host codes, review documents, and manage projects.

• Last Monday, 3M (NYSE: MMM) completed the sale of substantially all of its Communications Markets Division to Corning (NYSE: GLW) for approximately $900 million. The business includes optical and copper passive connectivity solutions, including xDSL, FTTx, and structured cabling solutions.

​

• Ryerson Holding Corporation (NYSE: RYI) entered into an agreement last Tuesday to acquire Central Steel & Wire Company (OTCMKTS: CSTW), a metal service center with six locations across the Central and Eastern US. Central Steel & Wire offers a portfolio of bar, tube, plate, and sheet products. According to Ryerson’s news release, the transaction values Central Steel & Wire at $140 million on a cash and debt-free basis. Central Steel & Wire has annual revenue of approximately $600 million.