The Brazilian meatpacker offers 2.086 JBS shares per PPC share, valuing the deal at $28.49 per share to delist the company from Nasdaq.
JBS has submitted a non-binding proposal to acquire the remaining shares of Pilgrim’s Pride (PPC) at $28.49 per share, offering 2.086 JBS Class A shares for each PPC share. The deal aims to simplify the company’s structure and remove standalone public costs, pending approval from unaffiliated shareholders and a special committee review.
JBS previously attempted full ownership in 2021 but withdrew the bid a year later. The company currently holds an 82% stake in Pilgrim’s Pride, acquired initially in 2009 for $800m after the poultry producer filed for Chapter 11 bankruptcy. The proposed transaction would delist PPC from Nasdaq, consolidating control under JBS USA.
The offer is subject to customary closing conditions, including majority approval from independent shareholders. JBS stated the move would enhance capital allocation efficiency across its operations.