Food
- Article Tools
- Email this Article
- Print this Article
- Rss Feed
- Del.icio.us
- Digg
- StumbleUpon
Gold Kist GKIS rejected a buyout offer from fellow chicken producer Pilgrim's Pride PPC, calling the $20-a-share bid inadequate. Gold Kist said the bid doesn't reflect the stand-alone value of the company, and it's exploring strategic alternatives that may lead to valuations greater than $20 a share. The company also said Pilgrim's Pride is subject to numerous conditions that make it uncertain a deal could be completed. Pilgrim's Pride launched its unsolicited bid in late August. At the time Gold Kist expressed disappointment that Pilgrim's went public with the offer but said it would evaluate the bid, which was valued at about $1 billion. Last month, Pilgrim's started a tender offer for the company. Gold Kist said Thursday that it strongly recommends that investors not tender their shares. Gold Kist also filed a lawsuit in a Georgia court seeking to stop Pilgrim's from proceeding with the tender offer and an attempt to add nine directors to Gold Kist's board. Pilgrim's Pride and Gold Kist are the nation's second- and third-largest chicken producers, respectively, behind Tyson FoodsTSN. Shares of Gold Kist recently fell 8 cents to $20.67, while Pilgrim's Pride rose 23 cents to $26.85.
It will get $31 million.
The fast-food giant sees third-quarter earnings above Wall Street's forecast.
But profit beats targets.
Yahoo! is among the most searched stocks on TheStreet.com. Here's what Cramer had to say about the stock recently.
Catch up on his thinking on the hottest topics of the past week.
Investors will have to deal with a Fed meeting and another flood of earnings and economic data.
Ensco International and Echelon have the potential to move higher in coming days.
See who made what calls.
The addition of video is helping telecom companies compete against cable and satellite companies.
The June West Texas Intermediate contract reflects selling pressure ahead of Tuesday's expiration. But stocks in the sector are generally trading higher.
See who made what calls.
Keep on top of the market and the critical information you need to make more profitable investing decisions.
Sponsored by:
RSS
