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Pro-Trust DOJ Under Spector Okays Poultry Concentration

Econ101

Well-known member
Pilgrim's Pride Gets Antitrust OK To Buy Gold Kist >PPC



Eamon Beltran

DOW JONES NEWSWIRES

October 17, 2006 10:03 a.m.



Pilgrim's Pride Corp.'s (PPC) $20-a-share offer to purchase Gold Kist Inc. (GKIS) received early antitrust clearance from the Department of Justice.



Pilgrim's Pride, of Pittsburg, Texas, said Tuesday it began an offer to acquire its rival poultry producer on Sept. 29. The proposal expires Oct. 27, unless extended.



On Thursday, Gold Kist Chief Executive John Bekkers called Pilgrim's bid "opportunistic" and too low, but added he is willing to listen to higher offers.



Nasdaq-shares of Gold Kist of Atlanta recently changed hands at $20.68, up 29 cents, or 1.4%. The company's shares reached a 52-week high of $21.06 on Sept. 29, up from a 52-week low of $11.26 on April 10.





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