JBS, a Brazilian company engaged in meat processing, offered to acquire the remaining 20% stake in Pilgrim's Pride, an American, multi-national food company. JBS to acquire shares in circulation for $26.5 per share. JBS wants to acquire Pilgrim's Pride's outstanding common shares, with the aim of delisting the publicly-held company. Currently, through its subsidiaries, JBS already owns an 80.21% stake in Pilgrim's Pride. The proposed acquisition of the remaining shares in circulation must be approved by a special committee of Pilgrim’s Pride board members as well as a majority of voting shares in the company.