According to reports, a court will allow Pilgrim’s Pride to solicit shareholders to vote on its sale to JBS SA, a Brazilian beef producer.
The deal is regarded as unusual for its terms to pay Pilgrim’s Pride’s creditors in full.
The $2.8 billion deal, if approved, would make JBS the largest meat producer worldwide.
Pilgrim’s shareholders to vote on JBS acquisition
Reorganization plan mailed to shareholders soon
October 23, 2009
