Reuters logo
BRIEF-Pilgrim’s acquires Moy Park for $1.3 billion
September 11, 2017 / 11:13 AM / 13 days ago

BRIEF-Pilgrim’s acquires Moy Park for $1.3 billion

Sept 11 (Reuters) - Pilgrims Pride Corp

* Pilgrim’s acquires Moy Park for $1.3 billion (£1.0 billion)

* Pilgrims Pride Corp - ‍transaction expected to be immediately accretive to Pilgrim’s EPS​

* Pilgrims Pride Corp - ‍transaction was unanimously approved by a special committee of Pilgrim’s board of directors​

* Pilgrims Pride - ‍transaction values equity interest of Moy Park at about $1.0 billion

* Pilgrims Pride Corp - ‍Pilgrim’s expects to achieve approximately $50 million in annualized synergies over next two years​

* Pilgrims Pride - ‍deal funded by a combination of co’s cash on hand, existing credit facilities and a subordinated seller financing note ​

* Pilgrims Pride - ‍special committee was advised independently and had been granted full authority over all aspects of transaction by board of directors​

* Pilgrims Pride Corp - ‍Moy Park will operate as a business unit within Pilgrim‘s​ Source text for Eikon: Further company coverage:

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below