MEMO: TYSON-IBP DEAL BUMPY BUT STILL ON TRACK

Tyson Foods Inc. said it will continue with its plan to purchase meatpacking giant IBP Inc., though the process became more complicated last week when Tyson announced that it would not meet a deadline for the cash portion of its $3.2 billion offer.

IBP and Tyson each said they want to continue to pursue the deal, which has already received Justice Department approval. Already the nation's leading poultry producer, the merger would also make Tyson top beef and pork producer.

Tyson reached a deal Jan. 1 to buy South Dakota-based IBP for $3.2 billion, half in cash and half in stock.