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OFFON

PILGRIM'S PRIDE CORPORATION

(PPC)
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Pilgrim's Pride Board to Form Special Committee to Evaluate JBS Proposal

08/16/2021 | 06:39am EDT

By Colin Kellaher

Pilgrim's Pride Corp. said its board plans to form a special committee to review and evaluate a proposal from majority shareholder JBS S.A. to buy the rest of the chicken processor.

Brazil's JBS, which already owns more than 80% of Pilgrim's Pride, last week proposed to pay $26.50 a share, or nearly $1.3 billion, in cash for the remaining stake in the Greeley, Colo., company.

JBS said at the time that its proposal, which values Pilgrim's Pride at roughly $6.46 billion, would be subject to the approval of a special committee of independent and disinterested Pilgrim's Pride board members.

In a filing with the U.S. Securities and Exchange Commission, Pilgrim's Pride said it could give no assurance that the proposal will result in an agreement with JBS or any other deal.

Shares of Pilgrim's Pride rose more than 20% Friday to close at $27.34, above the JBS proposed buyout price.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

08-16-21 0638ET

Stocks mentioned in the article
ChangeLast1st jan.
JBS S.A. -0.75% 36.89 End-of-day quote.55.92%
PILGRIM'S PRIDE CORPORATION -0.52% 28.83 Delayed Quote.48.04%
All news about PILGRIM'S PRIDE CORPORATION
10/08PILGRIM PRIDE : Pride to Release Third Quarter 2021 Financial Results October 27
GL
10/04Latin American M&A booms to 10-year high of $105 billion so far this year
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09/29BRINGING HOME THE BACON : Pilgrim's starts trading after Kerry purchase
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09/28PILGRIMS PRIDE CORP : Regulation FD Disclosure, Financial Statements and Exhibits (form 8-..
AQ
09/27PILGRIM PRIDE : Completes Acquisition of Kerry Consumer Foods' Meats and Meals Business
MT
09/27Pilgrim's Pride Announces Closure of Kerry Consumer Foods' Meats and Meals Acquisition
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09/20PILGRIMS PRIDE CORP : Other Events, Financial Statements and Exhibits (form 8-K)
AQ
09/20PILGRIM PRIDE : Forms Special Committee To Review JBS' Buyout Offer
MT
09/20Pilgrim's Pride Forms Special Committee
GL
09/03TYSON FOODS : Reportedly Agrees to Pay $21 Million Fine to Settle Lawsuit by Chicken Farme..
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More news
Analyst Recommendations on PILGRIM'S PRIDE CORPORATION
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Financials (USD)
Sales 2021 14 231 M - -
Net income 2021 245 M - -
Net Debt 2021 2 153 M - -
P/E ratio 2021 27,4x
Yield 2021 -
Capitalization 7 057 M 7 057 M -
EV / Sales 2021 0,65x
EV / Sales 2022 0,60x
Nbr of Employees 54 700
Free-Float 18,1%
Chart PILGRIM'S PRIDE CORPORATION
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Pilgrim's Pride Corporation Technical Analysis Chart | PPC | US72147K1088 | MarketScreener
Technical analysis trends PILGRIM'S PRIDE CORPORATION
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 28,96 $
Average target price 28,13 $
Spread / Average Target -2,88%
EPS Revisions
Managers and Directors
Fßbio Sandri President & Global Chief Executives officer
Matthew R. Galvanoni Global Chief Financial Officer
Gilberto Tomazoni Chairman
Wallim Cruz de Vasconcellos Independent Director
Michael L. Cooper Independent Director
Sector and Competitors
1st jan.Capi. (M$)
PILGRIM'S PRIDE CORPORATION48.04%7 057
TYSON FOODS, INC.28.01%30 095
HORMEL FOODS CORPORATION-9.48%22 890
JBS S.A.55.92%16 593
HENAN SHUANGHUI INVESTMENT & DEVELOPMENT CO.,LTD.-42.39%14 677
WH GROUP LIMITED-19.54%8 630