- Associated Press - Monday, June 9, 2014

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Auto industry gets serious about lighter materials

DEARBORN, Michigan (AP) - While hybrids and electrics may grab the headlines, the real frontier in fuel economy is the switch to lighter materials.

Automakers have been experimenting for decades with lightweighting, as the practice is known, but the effort is gaining urgency with the adoption of tougher fuel efficiency standards. To meet the U.S. government’s goal of nearly doubling average fuel economy to 45 mpg (19 kpl) by 2025, cars need to lose some serious pounds.

Lighter doesn’t mean less safe. Cars with new materials are already acing government crash tests. Around 30 percent of new vehicles already have hoods made of aluminum, which can absorb the same amount of impact as steel. Some car companies are teaming up with airplane makers, which have years of crash simulation data for lightweight materials.

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Tyson wins bidding war to gobble up Hillshire

NEW YORK (AP) - Tyson Foods Inc. has won a bidding war to gobble up Hillshire Brands, the maker of Jimmy Dean sausages and Ball Park hot dogs.

Tyson had been vying with rival poultry producer Pilgrim’s Pride to acquire Hillshire, which wrapped up its bidding process Sunday. Tyson’s final offer ended up at $63 per share, about two weeks after Pilgrim’s Pride made an initial bid of $45 per share.

Pilgrim’s Pride, which is owned by Brazilian meat giant JBS, said that it was bowing out of the competition.

Still, the deal is not sealed yet. It is contingent on Hillshire not going through with its offer to acquire Pinnacle Foods Inc., which makes Birds Eye frozen vegetables and Wish-Bone salad dressings. Pinnacle could allow Hillshire to do its deal with Tyson, leaving Pinnacle with a $163 million breakup fee. Or it could force Hillshire shareholders to vote on whether they’d prefer a merger with Pinnacle.

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5 things to know about Apple’s stock split

SAN FRANCISCO (AP) - Apple’s resurgent stock may have as much to do with financial engineering as the company’s technological wizardry.

Monday marked Apple’s first stock split in nine years, a move designed to make it more affordable to buy shares of the iPhone and iPad maker.

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