date:Jun 05, 2014
deal, with a total value of $6.6 billion, as inferior.
Pilgrim's, the second-largest U.S. chicken processor, is controlled by Brazilian meat packer JBS SA (JBSS3.SA) and has the flexibility to take on added debt without threatening its investment-grade credit rating, Gimme Credit's Bryan said.
This isn't the first time JBS has taken a run at Hillshire's assets. Reuters reported in 2010 that JBS was trying to buy Hillshire predecessor Sara Lee, but talks broke down over price.
Tyson has said