Tyson family to sell 3 million shares
May 14, 2010
by Bryan Salvage
SPRINGDALE, ARK. — The Tyson family has notified Tyson Foods management they intend to sell the 3 million shares they acquired at $12.75 per share in the September 2008 secondary common stock offering. This amounts to approximately 4% of the Tyson family’s holdings, said Dennis Leatherby, Tyson’s chief financial officer, during a May 10 earnings call with analysts.
“As a reminder, in an effort to diversify their holdings back in 2006 and 2007, the Tyson family sold 21 million shares,” Mr. Leatherby told the analysts. “This sale just brings them back to where they were from a portfolio standpoint and should not be interpreted in any other way.
“Personally, I just want to thank Don and John Tyson for their support during a challenging time for our company and am glad we were able to make a nice return for them,” he concluded.