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Gold Kist Advises Stockholders to Take No Action at This Time in Response to Pilgrim’s Pride Corporation’s Unsolicited Tender Offer

by 5m Editor
28 September 2006, at 2:13pm

US - Gold Kist Inc. (NASDAQ:GKIS) requests that its stockholders take no action at this time in response to Pilgrim’s Pride Corporation’s (NYSE:PPC) announcement that it is commencing an unsolicited tender offer to acquire all outstanding shares of common stock of Gold Kist at a price of $20.00 per share.

Gold Kist’s Board of Directors will carefully review the terms of the unsolicited tender offer, which is at the same price as Pilgrim’s unsolicited proposal announced on August 18, 2006.

The Board, in accordance with its fiduciary duties, will review and consider Pilgrim’s unsolicited tender offer and will make a recommendation to stockholders on or before October 12, 2006.

Merrill Lynch & Co. and Gleacher Partners LLC are acting as financial advisors to Gold Kist and Alston & Bird LLP and Richards, Layton & Finger are serving as outside legal counsel.

ThePoultrySite News Desk

5m Editor