BUSINESS NEWS

Brazil’s JBS Drops Deal to Buy Rest of Chicken Giant Pilgrim’s Pride



Brazilian meatpacking giant JBS SA said it scrapped plans to buy the rest of Pilgrim’s Pride Corp. in a deal that had valued the U.S. chicken processor at about $7 billion.

JBS, which already owns about 80% of Pilgrim’s, said in a securities filing on Thursday that it was unable to reach an agreement with the Colorado-based company over the terms of the deal.



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