JBS Offers to Buy Remaining Piece of Pilgrim’s Pride

Aug. 17, 2021
JBS SA is looking to complete its acquisition of Pilgrim’s Pride, a company in which it already owns a stake of 80.21%.

JBS SA is looking to complete its acquisition of Pilgrim’s Pride, a company in which it already owns a stake of 80.21%.

Pilgrim’s declared in a recent filing with the Securities and Exchange Commission that JBS has made an unsolicited offer for its remaining stock of $26.50 per share. The stock was selling for $27.47 the morning of Aug. 17.

Pilgrim’s board will form a special committee to consider the offer, which would have to be approved by a majority of shareholders. If the offer is accepted, Pilgrim’s stock would presumably be delisted.

Brazil-based JBS, the world’s biggest meat company, bought a majority stake in Pilgrim’s, an American processor of poultry and pork, in 2009.

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