Pilgrim’s Pride Corporation has announced that the antitrust division of the Department of Justice (DOJ) has granted early termination of the waiting period in connection with its offer to purchase all of the outstanding shares of Gold Kist common stock for US$20 per share.

However, Gold Kist said that the early termination of this waiting period will have no effect on its lawsuit against the rival chicken producer, which was filed in the US District Court for the Northern District of Georgia last week.

Pilgrim’s Pride commenced its offer to purchase all of the outstanding shares of Gold Kist common stock for $20 per share in cash in September and it is scheduled to expire after rejection at midnight, New York City Time, on Friday 27 October.

Gold Kist’s lawsuit alleges that Pilgrim’s Pride attempted to add nine of its own officers to the board of directors of Gold Kist prior to any possible acquisition of the company.

Pilgrim’s Pride president and chief executive officer OB Goolsby said: “We are pleased to have been granted early termination under HSR in connection with our offer to purchase Gold Kist. This is a positive step forward in our efforts to acquire Gold Kist.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.