Greeley-based poultry processor Pilgrim’s Pride Corp.’s (Nasdaq: PPC) board of directors has convened a special committee to review an unsolicited bid from Brazilian meatpacking giant JBS to buy all of the outstanding Pilgrim’s shares that it doesn’t already own. According to the Greeley Tribune, JBS, the parent company of Greeley-headquartered JBS USA and current owner of about 82% of Pilgrim’s shares, unsuccessfully attempted a similar takeover in 2022 after Pilgrim’s leaders determined that its final offer of $28.50 per share — JBS’ opening bid was $26.50 — undervalued the company.
