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Pilgrim’s May Absorb JBS USA in Reverse Merger, Batista Says

JBS SA, the world’s biggest beef producer, may turn its $7.1 billion Pilgrim’s Pride unit into the parent of U.S. operations in a so-called reverse merger after postponing an initial public offering of JBS USA, Chief Executive Officer Joesley Batista said.

“I would prefer to do the IPO of the U.S. unit, but a reverse merger of JBS USA and Pilgrim’s is possible,” Chief Executive Officer Joesley Batista told reporters in Sao Paulo today.