Pilgrim’s Pride Forms Special Committee and Selects Advisors to Review JBS N.V. Proposal

JBS N.V.'s pending buyout of Pilgrim's Pride moved forward as PPC's board formed a special committee of independent directors to evaluate JBS's August 18 unsolicited proposal to acquire all outstanding PPC shares it does not already own. The committee retained Ropes & Gray as legal counsel and Moelis & Company as financial advisor, and PPC's board will not approve any deal without the committee's favorable recommendation.

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