Gold Kist Responds To Pilgrims Pride Offer

by 5m Editor
28 September 2006, at 2:07pm

US - Gold Kist issued a statement late yesterday responding to Pilgrim’s Pride’s latest attempt at a hostile takeover. The Atlanta, Ga.-based Gold Kist says it has requested that stockholders take no action at this time.

Pittsburgh, Tex.-based Pilgrim's Pride is offering $20 a share, plus the assumption of $144 million in debt.

The Gold Kist statement also says its 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.

Source: MeatNews

5m Editor