Pilgrim's Pride acquires 92% of Gold Kist shares

by FoodBusinessNews.net Staff
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PITTSBURG, TEXAS — Pilgrim’s Pride Corp. completed the subsequent offering period to acquire all of the outstanding shares of Gold Kist, Inc. on Jan. 5. At the time of closing, the company announced it had acquired 47,149,479 shares, representing approximately 92% of Gold Kist’s outstanding common stock.

Pilgrim’s Pride will complete the acquisition of the remaining shares through a merger in which all Gold Kist shares non tendered will be converted into the right to receive $21 per share. Following the merger, Gold Kist will be a wholly owned subsidiary of Pilgrim’s Pride.

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