JBS Bids for Full Control of Pilgrims Pride
Brazilian meatpacker JBS has made a fresh stock-for-stock bid to acquire the remaining shares of US poultry producer Pilgrims Pride for $28.49 per share. The proposed deal aims to delist the company and simplify organizational structures.
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JBS NV-A offered to buy the remaining shares of PILGRIM'S PRIDE CORP for $28.49 per share on Tuesday in a stock-for-stock bid. The proposal follows an abandoned 2021 attempt and values the U.S. poultry producer at a market capitalization of $6.8 billion. The acquisition aims to eliminate standalone public company costs and simplify the meatpacker's organizational structure.
