JBS, a Brazilian company that is the largest meat processing company in the world, agreed to acquire Huon Aquaculture, a large aquaculture and food processing enterprise located in Tasmania, for $404m. "Having fully considered a range of alternatives as part of a comprehensive strategic review process, the Board believes this transaction provides Huon shareholders with an opportunity to realise significant value for their shares. The Scheme provides certainty for Huon shareholders and a compelling premium in cash to recent trading prices for Huon shares," Neil Kearney, Huon Chairman.