US: Gold Kist to consider Pilgrim’s Pride offer
The board of Gold Kist, the Atlanta-based poultry group, has said it will consider the takeover offer recently mounted by Pilgrim's Pride, the number two chicken producer in the US, though it said it wanted to remain an independent company.
Gold Kist also said it was disappointed that Pilgrim's Pride had chosen to make the offer public.
Pilgrim's Pride said on Friday (19 Aug) that it had made an offer of US$20 a share in cash, equivalent to around $1bn, for the company. Pilgrim's Pride would also take on $144m in debt as part of the transaction.
This is the latest in a series of takeover offers Pittsburgh-based Pilgrim's Pride has made for Gold Kist which is the third largest chicken producer in the US, with sales of $2.30bn, compared with Pilgrim's Pride's turnover of $5.67bn. All the offers have been rejected, the most recent being in July of this year.
Companies: Pilgrim’s Pride
With Pilgrim's Pride settling a US$1.1bn takeover battle for rival poultry firm Gold Kist, the US meats market is about to change shape. Joe Ayling reports on the implications of the deal....
Leading US poultry processor Pilgrim's Pride has reported a net loss of US$8.7m, or $0.13 per share, for the first quarter of the current fiscal year, against net income of $25.7m in the corresponding...
US poultry group Pilgrim's Pride Corporation has announced that it has raised the value of its offering of senior notes by US$200m....
Pilgrim's Pride will introduce EatWellStayHealthy Kids baked and breaded chicken products to 900 Publix outlets in Florida, Georgia, South Carolina, Alabama and Tennessee next month....
Pilgrim's Pride Corporation, the poultry group that has just completed the acquisition of rival Gold Kist, has announced it intends to offer an aggregate of approximately US$450m of its unsecured note...
Poultry group Pilgrim's Pride has announced the appointment of A. Wayne Lord as its vice president of governmental affairs, a newly created post....
Pilgrim's Pride has successfully completed its US$1.1bn takeover of rival Gold Kist, becoming the world's largest chicken processor. Gold Kist is now a wholly owned subsidiary of the chicken group....
Poultry group Pilgrim's Pride Corporation has announced that a total of 47,149,479 shares in Gold Kist, representing approximately 92% of the company's outstanding common stock, had been tendered by t...
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