Pilgrim’s Pride Corp. shares jumped after meatpacking giant JBS NV offered to acquire the shares of the chicken producer it doesn’t already own in a stock deal valued at about $1.2 billion.

JBS NV has announced that Indonesia's sovereign wealth fund, Danantara, will invest $2.5 billion to establish a joint venture focused on expanding JBS's protein market presence across Southeast Asia, Australia, and New Zealand.

JBS NV's new CEO is pledging continuity and seeking margin recovery in its main US beef business, anticipating benefits from a restructuring plan and renewed Mexican cattle flow.

JBS NV (JBS) stock has climbed to a seven-month high, driven by the company's robust earnings report.

JBS NV, the world's largest meat supplier, will once again be led by a member of Brazil's Batista family, as a scion is named the next CEO, marking a pivotal move for the global food powerhouse.