On September 3, 2009
Rumors Fly About Possible JBS Bid for Pilgrim’s Pride
Brazilian meat giant JBS may or may not be planning to buy bankrupt chicken processor Pilgrim’s Pride. Brazilian newspapers said a bid was imminent but failed to cite any sources. The Wall Street Journal confirmed the rumors, based on information from anonymous “people familiar with the matter.” Initially, according to the Wall Street Journal, “representatives for JBS and Pilgrim’s declined to comment.” But JBS later issued a statement, saying, “There is no transaction or firm commitment by the company, at this time, which would justify the disclosure of a material fact regarding the possible acquisition of other companies by the company.” In other words, “We’re not obligated to tell you anything yet, and we’re not going to.” Which is not…
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