Source:  Tom Johnston, MEATINGPLACE.COM, 9/2/09

JBS S.A. has sought talks with Pilgrim's Pride Corp. about a possible buyout, according to a report by Reuters quoting South American newspaper Valor Economico.

The report did not cite a source of the information, Reuters said. JBS and Pilgrim's Pride officials declined to comment, the report said.

The story emerges as Pilgrim's Pride, which filed for Chapter 11 bankruptcy protection last December, nears a Sept. 30 deadline to
file its reorganization plan.

The company has said it aims to exit from bankruptcy by the end of this year. As part of that effort, the company has been selling properties.

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