Tyson Foods Inc., the largest U.S. meat company, made a binding offer to buy Hillshire Brands Co. for about $7.7 billion after outbidding Pilgrim’s Pride Corp. to gain control of the maker of Jimmy Dean sausages and Ball Park hot dogs.

Tyson is offering $63 a share, it said today in a statement. Including net debt, the deal is worth $8.55 billion, the Springdale, Arkansas-based company said.

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