NEW YORK – Tyson Foods Inc is exploring a bid for Michael Foods Group Inc, a deal that would combine one of the world's largest chicken processors with a large distributor of egg and dairy products, according to three people familiar with the matter.
A potential deal for Michael Foods, which is seen worth between $2 billion and $2.5 billion according to the people, would place Tyson, the nation's largest meat producer, into an adjacent category within poultry and protein.
Michael Foods, the egg and dairy products producer owned by Goldman Sachs Group Inc's private equity unit, is in the early stages of finding a buyer, and Tyson may ultimately choose not to move forward with an offer, the people cautioned.
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