Tyson agreed to acquire Hillshire for about $7.8 billion after the target company scrapped another merger pact.
The Ibovespa rose for a second straight session as raw-material producers including MMX Mineracao & Metalicos SA followed commodities higher.
U.S. stocks fluctuated after equity benchmarks climbed to records last week as Family Dollar Stores Inc. rallied while Merck & Co. slipped amid deals activity.
Tyson Foods Inc., the largest U.S. meat company, raised its offer for Hillshire Brands Co. to about $7.7 billion, outbidding Pilgrim’s Pride Corp. for the maker of Jimmy Dean sausages and Ball Park hot dogs.
Yields on 30-year bonds slipped seven basis points to an 11-month low of 3.29 percent at 4 p.m. in New York. Portugal, Spain and Italy led a rally in European 10-year bonds.
JBS’s Pilgrim’s Pride Corp. unit offered $45 a share Hillshire Brands Co., it said in a statement today. The deal is contingent on Chicago- based Hillshire scrapping its $4.3 billion agreement to acquire Pinnacle.
Tyson Foods Inc., the largest U.S. meat processor, said consumers may be shifting toward buying chicken and away from red meat after the price of beef rose at a faster pace.