Nathan's Famous hot dogs sold in deal worth $450 million - Video

Nathan's Famous hot dogs is being sold to packaged meat giant Smithfield Foods in a deal worth $450 million.

The Coney Island icon started as a stand that sold 5-cent hot dogs more than a century ago. More recently, it's faced pressure from rising prices.

Shares of Nathan's closed more than 8% higher on Thursday after the news.

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