Uncertainty continues to surround Tyson Food’s $3.2bn cash bid for North America’s largest meat packer, IBP, after Tyson said it expected only to break even in the second quarter.

Tyson, the world’s largest poultry producer, attributed the shortfall to a range of variables: including severe winter weather conditions, higher energy and grain costs and "weaker-than-expected pricing." Having previously anticipated earnings per share in the 6-10 cents range, the company said it now expected earnings to be "at or near break-even" in the three months to the end of March 2001.

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