Brazil's JBS Strikes $2.7B Deal For Rival Pork, Poultry Biz

Law360, New York (June 10, 2013, 1:19 PM EDT) -- Major meatpacker JBS SA will swallow up the poultry and pork units of Brazil's Marfrig Alimentos SA for 5.85 billion reais ($2.74 billion) in assumed debt, the companies said Monday, a deal that will diversify the buyer's business beyond its main beef segment.

Confirmation of the agreement comes after several news outlets reported over the weekend that a sale was in the works, and would be worth between $2.5 billion and $3 billion.

In addition to broadening JBS' business, the deal also represents a significant step...
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