Pilgrim's Pride Corp (PPC)

[AKAPAK]

I liked the highlighed parts below:

SAO PAULO/CHICAGO, Oct 14 (Reuters) - Brazil's JBS (JBSS3.SA) said on Wednesday the U.S. Justice Department has approved the takeover of U.S.-based Pilgrim's Pride (PGPDQ.PK), paving the way for JBS to become the world's largest meat company.

In September, JBS said it would buy a 64 percent stake in the bankrupt U.S. chicken producer for $800 million. The addition of Pilgrim's Pride and Brazilian meat company Bertin, announced that same day, will give JBS about $30 billion in revenue.

Officials from both the U.S. Justice Department and Pilgrim's Pride could not be reached for comment.

The Pilgrim's Pride deal still depends on the bankruptcy court's final decision, which is expected at the end of December.

"Considering our success in the beef and pork areas in the United States, we believe we're well placed to bring this same energy to Pilgrim's Pride, its workers and clients," said Wesley Batista, executive officer of JBS USA, in a statement.

JBS is currently the leading beef processor in Argentina, Australia, Brazil and Italy and one of the leaders in the United States, after buying last year the beef unit of Smithfield Foods (SFD.N) and beef and pork company Swift & Co.

In addition, it is the No. 3 U.S. pork producer and will be a leading chicken producer once the Pilgrim's Pride purchase clears the bankruptcy process.

According to the decision, JBS will not be required to divest assets for the Pilgrim's Pride purchase to proceed, a JBS spokesman said.


pick any percentage of profit you want and divide it by thye outstanding = > the current shareprice, IMHO ing