Tyson Foods Inc. is close to acquiring Keystone Foods LLC, a U.S. supplier of chicken nuggets to McDonald’s Corp., according to two people familiar with the matter.
Tyson is in exclusive talks with Keystone’s owner, Brazil’s Marfrig Global Foods SA, said the people, who asked not to be named because the discussions are private. Representatives of Marfrig and Springdale, Arkansas-based Tyson declined to comment on the talks.
Marfrig is seeking to raise more than $3 billion from the sale of the business, people with knowledge of the matter said in May. Marfrig said that month that it had selected five bidders for the final phase of the sale process, which included visits to Keystone factories in the U.S. and Asia and the submission of binding offers in June.
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