Gold Kist takeover hatches leading poultry player
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.
Poultry merger
US: Pilgrim’s agrees Gold Kist merger
Chicken producer Pilgrim's Pride Corporation has entered into a definitive merger agreement to acquire the outstanding shares of rival poultry firm Gold Kist's common stock for US$1.1bn.
US: Gold Kist calls on shareholders to resist Pilgrim’s Pride offer
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.
US: Gold Kist income plummets in difficult market
Reporting its results for the fourth quarter, Gold Kist revealed that its profits took a nosedive, dropping from US$25m, or $0.49 per share last year, to $3.2m, or £0.06 per share, this year due to increasingly hostile market conditions.
US: Gold Kist board re-affirms opposition to Pilgrim offer
The board of US poultry group Gold Kist has restated its opposition to the takeover bid by Pilgrim’s Pride, writing to its stockholders urging them again to reject the US$20-per-share cash offer for the company.
US: Pilgrim’s Pride extends Gold Kist offer deadline
US poultry giant Pilgrim's Pride Corporation has announced that it has extended its tender offer for Gold Kist until 5.00pm New York time on 29 November 2006. The company said…
US: Gold Kist rejects Pilgrim’s offer
Gold Kist has rejected "as inadequete" a hostile takeover bid by US poultry producing rival Pilgrim's Pride. Pilgrim's offer of US$20 per share for Gold Kist was deemed too low…
US: Pilgrim’s Pride launches Gold Kist takeover bid
Pilgrim's Pride Corporation has sent an unsolicited proposal to Gold Kist offering to purchase all of the outstanding shares of the rival chicken producer for US$20.00 per share in cash.…
