Majority owner JBS proposes stock-for-stock acquisition of Pilgrim's Pride

PILGRIMS PRIDE CORP

JBS N.V. proposes to acquire all PPC shares it doesn't own at 2.086 JBS Class A shares per PPC share.
Implied value based on Aug 18, 2026 closes (JBS $13.66, PPC $28.49) is ~$28.50 per PPC share.
Board will form special committee; JBS requires its approval and majority of minority shares voted.
Proposal is non-binding, subject to definitive documentation; JBS says no due diligence needed.
JBS will not back alternative sale/merger of PPC and won't vote for any other transaction.

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