Pilgrim's Pride forms special committee to review JBS N.V.'s unsolicited buyout proposal

PILGRIMS PRIDE CORP

Special committee of independent, disinterested PPC directors will evaluate JBS N.V.'s Aug. 18, 2026 unsolicited bid for all PPC shares JBS does not already own.
Committee retained Ropes & Gray LLP as legal counsel and Moelis & Company LLC as financial advisor.
PPC's board will not approve the JBS transaction without the special committee's favorable recommendation.
Deal expected to be conditioned on approval by a majority of votes cast by PPC holders not held by JBS or its affiliates.
No purchase price or per-share terms disclosed; PPC says there is no assurance a definitive agreement will be reached or a deal consummated.

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