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Pilgrim's Pride seeks to lure shares

by 5m Editor
24 October 2006, at 12:13pm

US - Pilgrim's Pride, already spurned by Gold Kist, urged shareholders of the Atlanta-based poultry producer and processor to tender their shares by Friday.

Gold Kist's board of directors has recommended that shareholders not tender their shares to rival Pilgrim's Pride, which is offering $20 for each of Gold Kist's 51 million shares outstanding.

Gold Kist's board described the $1.02 billion offer as "inadequate" and "not in the best interests" of shareholders.

Source: News Observer

5m Editor