Home / Business and Economy / JBS Moves to Fully Acquire Pilgrim's Pride in $1.2B Deal
JBS Moves to Fully Acquire Pilgrim's Pride in $1.2B Deal
19 Aug
Summary
- JBS NV proposed acquiring remaining Pilgrim's Pride shares.
- The stock deal is valued at approximately $1.2 billion.
- JBS already holds an 82% stake in Pilgrim's Pride.
Pilgrim's Pride Corp. shares experienced a notable increase following an acquisition proposal from JBS NV. The meatpacking giant offered to purchase the outstanding shares of Pilgrim's Pride that it does not currently own.
This potential stock transaction is estimated to be worth around $1.2 billion. JBS NV already possesses a substantial 82% ownership stake in Pilgrim's Pride, according to recent statements made.
The offer signifies JBS's intent to gain complete control over the chicken producer. The market responded positively to the news, with Pilgrim's Pride shares showing a significant upward trend.
Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.
