UPDATE: 5/29/14, 9:10 a.m. EDT. Tyson Foods, advised by Davis Polk & Wardwell global M&A cohead George Bason Jr., capital markets cohead Richard Truesdell Jr. and corporate partner Marc Williams, has stepped in and made a $6.8 billion offer for Hillshire Brands.

Pilgrim’s Pride, a unit of Brazilian beef and poultry giant JBS, said Tuesday it has made a $6.4 billion cash-and-stock bid to acquire Hillshire Brands.

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