Wednesday, reports said that Brazilian JBS SA is set to announce as soon as next week the acquisition of Texas-based Pilgrim's Pride Corp. (PGPDQ.PK) for a price of roughly $2.5 billion.
The deal was in the final stages of negotiation and may yet fall apart. A JBS-Pilgrim deal would probably attract scrutiny from antitrust enforcers, who have said they plan to take a hard look at competition in the agriculture business.
Under the current proposal, JBS will make a "stalking horse" bid, in which it will be in the lead to acquire Pilgrim's Pride, though other bidders could later make competing offers, said the people familiar with the matter.
Reports said, in all, the offer is expected to be valued at $2.5 billion, according to a person familiar with the matter. It would pay off $1.2 billion in secured debt, about $1 billion in unsecured debt, accrued interest for the debt holders, and leave a "couple hundred million" for shareholders.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.