NEW YORK Ś Tyson Foods will pay $3.2 billion to add packaged sandwich maker AdvancePierre to its stable of processed food brands.

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Tyson will pay $40.25 per share, a 9.8 percent premium to AdvancePierre's closing share price Monday.

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Tyson Foods Inc. will also assume about $1.1 billion in debt from the Blue Ash, Ohio, company.

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The deal is expected to close in the third quarter.

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Tyson is shifting its portfolio to incorporate a heavier emphasis on proteins. On Monday, Tyson said that it might sell its Sara Lee frozen bakery business, its Kettle brand and Van's.

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Tyson, based in Springdale, Arkansas, owns the Jimmy Deanáand Ball Park brands.