GFM Network News


U.S. launches criminal probe into alleged chicken price fixing by Tyson, rivals

Reuters — The U.S. Department of Justice has begun a criminal probe into allegations that Tyson Foods and other poultry processors including Pilgrim’s Pride and Sanderson Farms colluded to fix poultry prices, court documents show. The DOJ filed a motion to intervene and stay discovery of evidence in an antitrust lawsuit involving the companies and […] Read more

U.S. investigators question shareholders of Brazil’s JBS

Brasilia | Reuters –– U.S. investigators this week visited Brazil to question shareholders of J+F Investimentos, the holding company that controls meatpacker JBS SA, as part of an existing plea deal, Brazilian prosecutors said on Friday in a statement. U.S. authorities have been investigating the companies controlled by J+F since their largest shareholders — brothers […] Read more


JBS beats estimates, refinances bank debt

Sao Paulo | Reuters — Brazil’s JBS SA, the world’s largest meatpacking company, beat analysts’ estimates for the first quarter and closed a deal to refinance the bulk of its bank debt on Monday. JBS’ net income for the first quarter, 506 million reais (C$179.45 million), was 48 per cent above analysts’ estimates, with higher […] Read more

Cargill considering bid for JBS’ Pilgrim’s Pride

Sao Paulo / Reuters – Global commodities trader Cargill Inc is considering bidding for Pilgrim’s Pride Corp, a U.S.-based chicken processor controlled by scandal-ridden Brazilian group JBS SA, newspaper O Estado de S. Paulo reported on Wednesday. A JBS representative said Pilgrim’s Pride is not for sale. An emailed request for comments from Cargill went […] Read more



JBS says Pilgrim’s Pride stake not for sale

Chicago | Reuters — Brazilian meat packer JBS SA’s core U.S. assets, including its majority stake in Pilgrim’s Pride Corp., are not for sale, the company said on Wednesday, a day after announcing a deal to sell Argentine operations. U.S. chicken company Pilgrim’s Pride is critical to JBS’ long-term strategy of pursuing business opportunities that […] Read more


JBS brothers test dealmaking skills in Brazil plea deal showdown

Sao Paulo/Washington | Reuters — The brothers whose deft dealmaking helped build JBS SA into the world’s No. 1 meat processor are testing that talent like never before as they seek a leniency deal with prosecutors after admitting to paying millions of dollars in bribes to Brazilian politicians. JBS and its controlling shareholder J+F Investimentos, […] Read more

Tyson reveals subpoena linked to alleged price fixing

Reuters — Tyson Foods disclosed on Monday it has received a subpoena from the U.S. Securities and Exchange Commission following allegations it conspired with rivals for years to fix chicken prices. The chicken sector, which is dominated by a handful of large meat companies, has come under increased scrutiny over the past year as customers […] Read more



Brazil court probing state-backed loans to JBS

Sao Paulo | Reuters — Brazil’s federal accounts court, the TCU, said it had identified irregularities on loans to JBS SA, the world’s largest beef producer, and is deepening an investigation into the company’s relationship with state-run lender BNDES. The TCU is probing loans used to purchase U.S.-companies Swift and Co, for about US$225 million […] Read more