Atkinson said the company continues to expect to emerge from bankruptcy later this month.
In September, Brazilian beef company JBS said it would buy a majority stake in Pilgrim's Pride for $800 million in a transaction that would include paying off Pilgrim's Pride's creditors in full and distributing new shares to current holders.
That's unusual for a company in bankruptcy protection because typically creditors aren't repaid. The entire deal is valued at $2.8 billion, and it and another announced last month would make JBS the world's biggest meat maker
Recent PPC News
- Pilgrim’s Pride Reports Third Quarter 2024 Results with $4.6 Billion in Net Sales and Operating Income of $508.4 Million • GlobeNewswire Inc. • 10/30/2024 08:30:00 PM
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- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/07/2024 08:45:29 PM
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