Pilgrim's Pride Board Evaluating Buyout Proposal

By Hao Liu • Friday, October 09 16:03 • Permanent Link

Pilgrim’s Pride said its board has formed a special committee of independent and disinterested directors to evaluate JBS N.V.’s unsolicited proposal to buy the shares of Pilgrim’s Pride it does not already own.

The committee has hired Ropes & Gray LLP as legal counsel and Moelis & Company LLC as financial adviser.

JBS first made its proposal on Aug. 18, 2026. Pilgrim’s Pride said its board will not approve the deal without a favorable recommendation from the special committee, and any transaction would also be expected to require approval from a majority of the votes cast by shareholders not affiliated with JBS.

Pilgrim’s Pride employs about 63,000 people and operates protein processing and prepared-food facilities in 14 states, Puerto Rico, Mexico, the U.K., the Republic of Ireland and continental Europe. As a result of these announcements, the company's shares have moved 1.35% on the market, and are now trading at a price of $28.50. For the full picture, make sure to review PILGRIMS PRIDE CORP's 8-K report.

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