Apr 25, 2017

Tyson Foods is paying $4.2 billion for sandwich maker

Source: Giphy

Tyson Foods on Tuesday announced an agreement to acquire Ohio-based packaged sandwich company AdvancePierre Foods for around $4.2 billion, or $40.25 per share in cash (9.8% premium on Monday's closing price). Sellers include Oaktree Capital Management, which holds around a 42% of AdvancePierre's common stock and said that it will support the transaction.

Not done yet: This is really the first in a two-step process for Tyson Foods, which announced just yesterday that it will refocus on its core proteins biz by selling off its three non-protein brands (Sara Lee Frozen Bakery, Kettle and Van's).

Big price: AdvancePierre shares had climbed 33.2% so far in 2017, prior to the premium being paid by Tyson. Moreover, the $40.25 per share sale price is nearly double the $21 per share where AdvancePierre went public just seven months ago.

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Bernie Sanders wins Nevada caucus

Democratic presidential candidate Sen. Bernie Sanders waves to supporters at a campaign rally on Friday in Las Vegas. Photo: Mario Tama/Getty Images

Sen. Bernie Sanders is projected to handily win the Nevada Democratic primary caucus, becoming the clear frontrunner among 2020 Democratic presidential primary election candidates.

Why it matters: Nevada is the first state with a diverse population to hold a nominating contest, highlighting candidates' abilities to connect with voters of color — particularly Latino voters.

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South Korea and Italy see spikes in coronavirus cases

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The novel coronavirus has spread to more nations, and the U.S. reports a doubling of its confirmed cases to 34 — while noting these are mostly due to repatriated citizens, emphasizing there's no "community spread" yet in the United States.

The big picture: COVID-19 has now killed at least 2,446 people and infected almost 79,000 others, mostly in mainland China. New countries to announce infections recently include Israel and Lebanon, while Iran reported its sixth death from the virus. South Korea's confirmed cases jumped from 204 Friday to 433 on Saturday and Italy's case count rose from 3 to 62 by Saturday.

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Heat wave melts 20% of snow cover from Antarctic island in days

The effects of February's record heat wave on Eagle Island in Antarctica. Photo: NASA

Antarctica's Eagle Island now has a side that's almost ice-free following this month's searing heat wave in the region, images released by NASA show.

Why it maters: "The warm spell caused widespread melting on nearby glaciers," NASA said in its report. It's the third major melt event of the 2019-2020 Southern Hemisphere summer, following warm spells in January and last November, according to the United Nation's World Meteorological Organization (WMO).