TSN acquires APFH for $4.2B in cash—a 32% premium: https://www.wsj.com/articles/tyson-foods-to-buy-sandwich-maker-advancepierre-1493122978 The all-cash deal would expand Tyson’s reach in sandwiches to include cheesesteaks, peanut butter and jelly, and other offerings that AdvancePierre markets to restaurant chains, school districts and grocery stores. The deal expands on Tyson’s ambitions in branded and prepared foods that tend to carry fatter and more-stable profits than commodity meatpacking... Tyson’s prepared foods business represented about one-quarter of the company’s $2.8 billion in 2016 operating profit, with earnings rising about 25% despite a decline in sales for the segment.