Pilgrim’s Pride Corporation’s stock rose 6.9% in premarket trading on Wednesday after JBS N.V. submitted a non-binding proposal to acquire the remaining 18% stake in the poultry producer that it does not already control.
JBS, which owns approximately 82% of Pilgrim’s Pride, proposed an all-stock transaction with a fixed exchange ratio of 2.086 JBS Class A common shares for each Pilgrim’s Pride share. The offer was priced using closing share prices on August 18, 2026, which were $13.66 for JBS and $28.49 for Pilgrim’s Pride, implying a transaction value of roughly $1.2 billion based on Pilgrim’s Pride’s outstanding shares.
The proposal requires approval from a special committee of independent directors to be appointed by Pilgrim’s Pride’s board, as well as a majority vote from shares not held by JBS or its affiliates. Standard closing conditions would also apply. JBS shareholders would not need to approve the deal, according to the terms.
If the acquisition is completed, Pilgrim’s Pride shares would be delisted from Nasdaq and the company would be deregistered. JBS, the world’s largest meat processor, has held a majority stake in Pilgrim’s Pride since 2009, overseeing its expansion into global markets and revenue growth over the past 16 years.
Jeremiah O’Callaghan, Chairman of the JBS Board of Directors, said the proposal reflects the companies’ long-standing partnership and aims to give Pilgrim’s Pride shareholders continued exposure to its performance through JBS shares. Financial advisory for JBS was provided by Citi, with White & Case LLP serving as legal counsel.
