Pilgrim’s Pride Corporation (NASDAQ: PPC) announced on October 9, 2026, that its board of directors has formed a special committee of independent and disinterested directors. This committee has been established to review and evaluate a proposal received from JBS N.V. on August 18, 2026.
The proposal from JBS N.V. is an unsolicited offer to acquire all of the outstanding shares of common stock of Pilgrim’s Pride that JBS does not currently own. The special committee has retained Ropes & Gray LLP as its legal counsel and Moelis & Company LLC as its financial advisor to assist in this evaluation.
According to the filing, the Pilgrim’s Pride board of directors will not approve the transaction proposed by JBS without the favorable recommendation of the special committee. Additionally, any such transaction is expected to be conditioned on the affirmative vote of a majority of the votes cast by the holders of PPC shares not held by JBS or its affiliates.
The company noted that there can be no assurance that a definitive agreement relating to JBS’s proposal will be entered into by Pilgrim’s Pride, or that any transaction will be consummated.
