PPC
Pilgrim's Pride CorporationNYSE
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  • Tue, Nov. 29, 9:07 AM
    • Pilgrim's Pride (NYSE:PPC) announces that is bought out chicken producer GNP Company for $350M.
    • The company says the deal for Midwest-based GNP has the support of the board and as well as JBS S.A.
    • The transaction is expected to close during the first quarter of 2017.
    • The $350M enterprise value of the transaction reflects an expected EBITDA multiple of 5.2X, excluding any potential synergy gains.
    • Source: Press Release
    | Tue, Nov. 29, 9:07 AM
  • Tue, Nov. 8, 2:58 PM
    • Food stocks are getting gobbled after a report circulates indicating that 3G is prepping for another acquisition.
    • Sources tell Brazil Journal that 3G is raising between $8B and $10B for the new deal.
    • Gainers on the day include Mondelez International (MDLZ +4%), G. Will Food-International <<WILC,>> Kraft Heinz (KHC +2.8%), Pilgrim's Pride (PPC +2.9%), Lifeway Foods (LWAY +1.2%), Pinnacle Foods (PF +0.8%), Tyson Foods (TSN +1.4%), Seneca Foods (SENEB), Campbell Soup (CPB +3.6%), General Mills (GIS +3%), Kellogg (K +2.8%), Flower Foods (FLO +1.4%) and J.M. Smucker (SJM +1.1%).
    • The PowerShares Dynamic Foods & Beverage ETF (NYSEARCA:PBJ) is up 1.93% on the day.
    | Tue, Nov. 8, 2:58 PM | 40 Comments
  • Jun. 9, 2014, 1:31 AM
    • Tyson Foods (TSN) appears to have won the battle to buy Hillshire Brands (HSH), after offering $7.7B for the company, or $63 a share. The offer is nearly $1B more than the bid cast by Pilgrim's Pride (PPC) last week.
    • The deal is still not finalized, and can take a few days, if not more. Hillshire Brands cannot even make another deal until it terminates a previous merger agreement with Pinnacle Foods (PF), paying $163M towards a break-up fee.
    | Jun. 9, 2014, 1:31 AM | 2 Comments
  • May 29, 2014, 8:44 AM
    • Tyson Foods (TSN) offers to buy Hillshire Brands (HSH) for $50 per share.
    • The offer is over the top of a bid from Pilgrim's Pride (PPC) for the company.
    • The news could hit shares of Pinnacle Foods (PF) if it's left without a merger partner.
    • Food stock chain reaction (premarket): TSN +3.4% to $42.15; HSH +13.9% to $51.25, PPC -1.5% to $25.00; PF -1.8% to $31.00.
    | May 29, 2014, 8:44 AM | 4 Comments
  • May 27, 2014, 7:28 AM
    • A $6.4B offer by Pilgrim Pride's (PPC) to buy Hillshire Brands (HSH) could rattle the food sector.
    • For starters, the deal could spoil Hillshire's offer on the table to buy Pinnacle Foods (PF).
    • The quick analyst take on a PPC-HSH combination is favorable with the companies focused in different areas (chicken vs. packaged meat) which could lead to easy access to new distribution channels.
    • Premarket: HSH +22.9% to $45.49, PF -5.3% to $31.50.
    • Also on merger watch in the food sector: THS, SJM, GIS, KRFT, CPB, ADM, BGS, RAH, HAIN, K CAG
    | May 27, 2014, 7:28 AM | 2 Comments
  • May 27, 2014, 7:10 AM
    • Pilgrim's Pride (PPC) proposes to acquire Hillshire Brands (HSH) for $45 per share in an all-cash deal.
    • Shares of PPC are halted, HSH +19.7% premarket.
    | May 27, 2014, 7:10 AM | 1 Comment