Gold Kist files lawsuit to prevent Pilgrim's Pride takeover

10/13/2006 | American City Business Journals

After rejecting Pilgrim's Pride Corp.'s $1 billion takeover attempt, Gold Kist Inc. has initiated a lawsuit aimed at ending what it calls "unlawful solicitation" of Gold Kist stockholders to add Pilgrim's Pride officers to the Gold Kist board. "We once again are disappointed in the Gold Kist board's recommendation which has failed to recognize both the value our offer affords Gold Kist's stockholders and the opportunity presented to employees and contract growers," Pilgrim's Pride said.

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