US chicken producer Pilgrim’s Pride said it had received the requisite shareholder consents solicited in connection with its hostile takeover bid of compatriot chicken processor and plucker Gold Kist.
The company yesterday (16 October) confirmed it had received the requisite consents related to its tender offer of Gold Kist’s outstanding 10.25% senior notes due March 2014.
The offers are scheduled to expire 27 October. Holders who validly tender their notes will receive payment on a scheduled date to be determined, and will also receive accrued and unpaid interest from the last interest payment date to, but not including, the payment date.
Late last week Gold Kist rejected Pilgrim Pride’s offer as “inadequate”.