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.

Go deeper

2 hours ago - Health

U.S. hits highest daily COVID-19 case count since pandemic began

Expand chart
COVID Tracking Project

The U.S. confirmed at least 83,010 coronavirus cases on Friday, the country's highest daily total since the pandemic started, according to data from the COVID Tracking Project.

By the numbers: Friday's total surpassed the U.S.'s previous record set on July 17 when 76,842 cases were recorded. 

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Fauci: Trump hasn't been to a COVID task force meeting in months.
  2. Sports: The youth sports exodus continues — Big Ten football is back.
  3. Health: AstraZeneca to resume vaccine trial in U.S.How to help save 130,000 lives.
  4. Retail: Santa won't greet kids at Macy's this year.
  5. World: Spain and France exceed 1 million cases.
3 hours ago - Health

Fauci: Trump hasn't been to a COVID task force meeting in months

Photo: Drew Angerer/Getty Images

President Trump has not attended a White House coronavirus task force meeting in “several months,” NIAID director Anthony Fauci told MSNBC on Friday.

Why it matters: At the beginning of the pandemic, the task force, led by Vice President Mike Pence, met every day, but in the "last several weeks," members have held virtual meetings once a week, Fauci said, even as the number of new cases continues to surge in the country.

Get Axios AM in your inbox

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Subscription failed
Thank you for subscribing!