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Pilgrim's Pride committed to Gold Kist buy

14th Nov 2006, 20:50 GMT

Pilgrim's Pride said Tuesday it is committed to continuing its efforts to acquire rival chicken processor Gold Kist. "We have a tender offer that's open," said Richard A. Cogdill, chief financial officer, in a conference call with analysts to discuss the company's fiscal fourth-quarter results. "At this point, we are committed with continuing forward with this transaction." Company officials declined to comment further during the conference call about the $1.02 billion deal, which Atlanta-based Gold Kist has rejected as "inadequate" and "not in the best interests" of shareholders.

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