Word: conagra
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Dates: during 1980-1989
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...Tennessee company clucked loudly at Tyson's advances and turned to another chicken producer interested in acquiring some of Holly Farms' juicy parts. Omaha-based ConAgra, the No. 2 grower, agreed on a so-called lockup arrangement in which the Nebraska firm can buy some of Holly Farms' operations if the marauding Tyson succeeds in taking over. ConAgra, which already controls 20% of the U.S. beef industry, 33% of the lamb market and nearly 10% of broiler production, would like to bring Holly Farms' Weaver frozen-chicken label into the same shed with its Armour, Banquet and Country Pride brands...
...Holly Farms' stockholders, Tyson offered a spicier bid of $1.15 billion last week, contingent on the cancellation of the ConAgra agreement. In response, the Holly Farms board of directors said that unless ConAgra comes up with a better offer before a special stockholders meeting in late February, it will recommend the Tyson offer to its shareholders. Then the poultry prince will really have something to crow about...
Charles Harper, for one. Harper is chairman of Omaha's ConAgra food- processing company and may move the firm downtown, near the city's gentrified warehouse district. But he does not want to play along with the preservationists. He says he will not put his headquarters next to "some big, ugly red buildings" just because they are historic. Harper is demanding that the warehouses be demolished. "Some people love old red brick buildings," Harper says. "Some...