We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Pilgrims Pride Corporation | NASDAQ:PPC | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.33 | 0.92% | 36.28 | 35.42 | 37.00 | 36.76 | 35.97 | 35.97 | 910,096 | 01:00:00 |
By Colin Kellaher
Shares of Pilgrim's Pride Corp. rose more than 20% in early trading Friday after majority owner JBS S.A. proposed shelling out nearly $1.3 billion to buy the rest of the chicken processor.
Under the proposal, Sao Paolo-based JBS said it would pay $26.50 a share in cash for the 19.8% of Pilgrim's Pride it doesn't already, a 17% premium to Thursday's closing price of $22.68 for the Greeley, Colo., company.
Pilgrim's Pride shares were recently up 21.3% to $27.51, above the JBS bid, indicating that investors may think a better deal can be had.
But JBS, which in late 2009 acquired a majority stake in Pilgrim's Pride under the U.S. company's bankruptcy reorganization plan, said it is only interested in acquiring full ownership of the second-largest U.S. chicken processor, and that it isn't interested in selling its holdings.
The move by JBS comes after Cargill Inc. and agricultural-investment firm Continental Grain Co. earlier this week said they reached a deal to buy Sanderson Farms Inc., the country's third-biggest chicken producer, for around $4.5 billion. The JBS proposal values Pilgrim's Pride at roughly $6.46 billion.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
August 13, 2021 10:14 ET (14:14 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
1 Year Pilgrims Pride Chart |
1 Month Pilgrims Pride Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions