BizBuzz
Longview News-Journal business editor Mike Elswick, fickle fleeting fingers racing across his keyboard, updates East
Texans on business and consumer issues affecting them and the region in his blog -- BizBuzz. Mike, a self-professed business news junkie, joined the News-Journal staff in March 1984 and has covered a variety of issues, events and personalities in that time. His newspaper career has also included time as circulation director and a community newspaper publisher. He and his wife Nancy raised their three children in Longview and they have two grandchildren.
What's on this page →
The entry titled "Pilgrim's Pride selling shares to lower debt," and any of the comments about it.
Categories
Commenting is open from 8 a.m. to 5 p.m. M-F
Recent entries
Mike Elswick's business coverage
Home
>
BizBuzz
>
Archives
>
2008 > May > 13 > Entry
Pilgrim’s Pride selling shares to lower debt
By Mike Elswick
| Tuesday, May 13, 2008, 09:16 AM
Pilgrim’ Pride Corp. announced Tuesday morning it agreed to sell 7.5 million shares of its common stock for about $180 million, or $24.00 per share, to underwriter Lehman Brothers Inc.
The nation’s largest chicken producer plans to use the proceeds to lower outstanding debt under its credit facilities and for general corporate purposes. The company is headquartered in Pittsburg.
Lehman Brothers plans to resell the shares. The offering is expected to close on Friday subject to standard closing conditions. The offering was made through Lehman Brothers Inc. as sole underwriter.
Permalink
| Comments (0)
| Post your comment |
Commenting is open from 8 a.m. to 5 p.m. M-F
Comments