Gold Kist has reiterated its advice to shareholders not to sell shares to Pilgrim’s Pride, which launched a hostile bid to acquire the company last month.

“We firmly believe that Pilgrim’s $20-a-share offer does not reflect the full strategic value of Gold Kist and is not in the best interest of our stockholders,” the company said in a statement.

“As we have said consistently, our board of directors is committed to maximising stockholder value, and we are willing to pursue a transaction with Pilgrim’s or any other strategic alternative that is in the best interest of our stockholders. We are grateful for the continued support of our stockholders and we remain committed to maximising the company’s value on their behalf,” Gold Kist concluded.