JBS proposed a fixed exchange ratio of 2.1 shares of its Class A common stock for every Pilgrim’s Pride share. Based on the market closing prices from August 18—$13.66 for JBS and $28.49 for Pilgrim’s Pride—the offer seeks to consolidate the company’s massive footprint. Pilgrim’s Pride currently manages protein processing and prepared-foods plants across 14 U.S. states, Puerto Rico, Mexico, and Europe, maintaining a workforce of approximately 63,000 employees.
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Pilgrim’s Pride Appoints Independent Panel to Review JBS Buyout
A special committee of independent directors is now evaluating an unsolicited takeover bid from JBS, the global meatpacking giant that already controls roughly 82% of Pilgrim’s Pride. The move follows a mid-August proposal aimed at folding the poultry processor into a broader, more diversified international business structure.
The board of Pilgrim’s Pride confirmed that no transaction will proceed without a favorable recommendation from the newly formed independent committee. Executives emphasized that the formation of this panel does not guarantee a specific outcome or that any deal will ultimately be reached.
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