JBS buyout bid for Pilgrim's moves to special committee

Pilgrim's Pride formed a special committee of independent directors on October 9, 2026, to evaluate an unsolicited buyout proposal from JBS. The Brazilian meatpacker is the majority shareholder of Pilgrim's Pride and aims to acquire all remaining shares to take the US poultry producer private.

JBS, which currently owns approximately 82% of the company, disclosed its plan in August. The proposal offers 2.086 Class A shares, or $28.49 per share, for the stock it does not already own. That offer matched the closing price on the day it was submitted.

To assist with the review, the special committee appointed Ropes & Gray LLP as legal adviser and Moelis & Company LLC as financial adviser. Pilgrim's Pride stated that its board will not approve the transaction without a favorable recommendation from the committee. The company noted there is no guarantee that a definitive agreement will be reached or that a deal will close.

Shares of Pilgrim's Pride closed their latest session at $28.50, giving the company a market value of $6.79 billion, according to data compiled by LSEG.