JBS Moves For Pilgrim's Pride

It has been reported that Brazil-based JBS, the world's largest beef processor, is set to launch a bid for the largest poultry processor in the US, Pilgrim's Pride. The US firm filed for Chapter 11 bankruptcy protection in December 2008 after struggling to contend with high debts, low poultry demand and rising feed costs and should therefore be available for an attractive price. Meanwhile, the factors that caused it to fall into administration, including high corn prices and an oversupply of poultry meat, have diminished making now a suitable time to attempt a

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