JBS has submitted a non-binding proposal to acquire the remaining shares of Pilgrim's Pride, four years after abandoning a previous bid. The Brazilian meatpacker would give Pilgrim's Pride investors 2.086 JBS Class A shares for each share they own, valuing the offer at $28.49 per share. JBS currently owns around 82% of the Greeley, Colorado-based poultry producer through its US unit JBS USA. If completed, the deal would remove Pilgrim's Pride from the Nasdaq stock exchange and create a simplified organisational structure. The proposal requires approval from a special committee of independent directors and a majority of votes cast by unaffiliated Pilgrim's Pride shareholders.
Pilgrims Pride CorpPilgrim's Pride receives a takeover offer at $28.49 per share, a premium.
JBS N.V.JBS proposes to acquire remaining Pilgrim's Pride shares, consolidating ownership.
Japan Business Systems, Inc.
