JBS Offers to Buy Out Pilgrim’s Pride, With No Premium Attached
JBS offered 2.086 of its own shares for each Pilgrim's Pride share it does not hold, valuing the minority stake near US$1.2 billion with no premium. The post JBS Offers to Buy Out Pilgrim’s Pride, With No Premium Attached appeared first on The Rio Times .
Brazilian meatpacker JBS has extended an all-stock offer to buy out Pilgrim's Pride, the largest chicken producer in the United States. The proposal, which carries no premium and is non-binding, values the minority stake JBS is seeking at approximately the current market price of Pilgrim's Pride shares. JBS already holds about 82 percent of the company, owning shares worth roughly $28.49 each.
The deal would result in Pilgrim's Pride ceasing to trade as a separate company on the Nasdaq, with Pilgrim's Pride shareholders swapping their stock for JBS shares.
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