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Brazil’s JBS makes offer for 100% of Pilgrim’s Pride, largest U.S. chicken company

RIO DE JANEIRO, BRAZIL - The largest chicken company in the US, controlled by JBS since 2009, is worth US$5.5 billion on the Nasdaq stock exchange.  The offer - sent last night to the board of Pilgrim's Pride (PPC) - is a 17% premium over yesterday's closing share price (US$22.68) and 22% over the average of the last 30 days.

The transaction will be evaluated by a committee of independent members of the PPC board, advised by legal and financial advisors chosen by the committee itself. In addition, the offer needs a simple majority among PPC's . . .

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