Tyson to offer 20M shares in public offering

Tyson said it will grant the underwriters an option to buy up to another 3 million shares of its Class A stock to cover overallotments, if any.

The company said an entity controlled by Don Tyson, the company's former chairman, has indicated it will buy 3 million shares in the offering.

Tyson said it will also offer $450 million in convertible senior notes due in 2013 in an underwritten public offering.

Tyson said it will grant underwriters an option to buy up to another $67.5 million in notes to cover overallotments.

Proceeds, the company said, will be used to repay parts of the outstanding borrowings under Tyson's accounts receivable credit facility and for other general corporate purposes, including acquisitions and investments.