Feds Greenlight JBS' $800M Pilgrim's Pride Deal

Law360, New York (October 15, 2009, 2:44 PM EDT) -- Federal antitrust regulators have given the go-ahead to JBS SA's $800 million acquisition of a 64 percent stake in bankrupt poultry producer Pilgrim's Pride Inc.

Pilgrim's Pride announced Wednesday that the Federal Trade Commission and the U.S. Department of Justice had given early antitrust approval for JBS USA Holdings Inc., the American subsidiary of the Brazilian beef giant, to the deal.

The transaction — which represents an enterprise value of approximately $2.8 billion — was announced Sept. 17 in tandem with a joint plan of reorganization...
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