Pilgrim’s Pride Forms Special Committee
The special committee has retained
The board resolutions establishing the special committee expressly provide that the PPC board of directors will not approve the transaction proposed by JBS without the prior favorable recommendation of the special committee, and that any such transaction will be conditioned on the affirmative vote of a majority of PPC shares that are not held by JBS or its affiliates.
There can be no assurance that a definitive agreement relating to the JBS proposal will be entered into by PPC, or that any transaction will be consummated.
About Pilgrim’s Pride
Pilgrim’s employs more than 56,000 people and operates protein processing plants and prepared-foods facilities in 14 states,
Source: Pilgrim's Pride Corporation