Pilgrim's Pride Board Forms Special Committee to Evaluate JBS Acquisition Bid

Key Facts

1Pilgrim's Pride board formed a special committee of independent directors to evaluate the unsolicited acquisition proposal from JBS N.V.

The board of directors of Pilgrim's Pride Corporation formed a special committee of independent directors to evaluate an unsolicited acquisition proposal from JBS N.V. According to a statement released via GlobeNewswire, the committee has selected Ropes & Gray LLP as legal counsel and Moelis & Company LLC as financial advisor to assist in the evaluation. The proposal, originally received on August 18, 2026, seeks to acquire all outstanding shares of common stock not currently owned by JBS.

PPC closed at $28.50 on October 8, 2026, while JBS closed at $12.75 on the same date. Pilgrim's Pride stated that the board will not approve the proposed transaction without a favorable recommendation from the special committee, and any deal remains subject to the affirmative vote of a majority of shareholders unaffiliated with JBS.