Pilgrim's Pride Corp. Stock Gains 14%

(RTTNews) - Shares of Pilgrim's Pride Corporation (PPC) are gaining around 14 percent in Wednesday morning trading, likely due to JBS N.V.'s (JBS) announcement yesterday to acquire all of the outstanding shares of common stock of the company.

The company's shares are currently trading at $32.36 on the Nasdaq, up 13.54 percent. The stock opened at $30.40 and has climbed as high as $32.85 so far in today's session. Over the past year, it has traded in a range of $25.90 to $47.70.

Upon completion of the proposed transaction, shares of PPC common stock would no longer be quoted on Nasdaq.