Investing.com — Pilgrim’s Pride Corporation () shares surged 6.9% in premarket trading Wednesday after JBS N.V. () submitted a non-binding proposal to acquire the remaining 18% stake in the poultry producer it does not already own.
JBS, which currently owns approximately 82% of Pilgrim’s Pride, proposed a fixed exchange ratio of 2.086 JBS Class A common shares for each PPC share. The offer was based on the closing share prices on August 18, 2026 of $13.66 for JBS and $28.49 for PPC.
The proposed transaction requires approval from a special committee of independent and disinterested directors expected to be appointed by the PPC Board of Directors. The deal also needs approval from a majority of votes cast by PPC shares not owned by JBS or its affiliates, along with customary closing conditions.
“For over 16 years, JBS and PPC have worked together as PPC has expanded its operations, strengthened its global presence and significantly grown revenue,” said Jeremiah O’Callaghan, Chairman of the JBS Board of Directors. “We believe this proposal offers PPC stockholders the opportunity to continue participating in PPC’s future performance through ownership of JBS shares, with exposure to a larger and more diversified global business.”
If completed, PPC shares would no longer be quoted on Nasdaq and would be deregistered. The transaction does not require approval by JBS shareholders.
JBS highlighted potential benefits including continued participation in PPC’s business performance as part of a larger global multi-protein platform, a simplified organizational structure with cost savings from eliminating standalone public company expenses, and access to greater trading liquidity through JBS’s larger market capitalization.
Citi is serving as financial advisor and White & Case LLP as legal advisor to JBS.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.