date:May 28, 2014
Pilgrims Pride Corp., which is majority owned by JBS S.A., Sao Paulo, Brazil, has submitted an all-cash offer of $45 per share to acquire the Hillshire Brands Co., Chicago. If completed, the transaction would be valued at approximately $6.4 billion.
The acquisition also would be contingent on Hillshire Brands terminating its agreement to acquire the Pinnacle Foods Group, Parsippany, N.J., which was announced May 12.
For its most recent fiscal year, Hillshire Brands had sales of $3.9 billion. T