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Brazil meatpacker Marfrig to partake in BRF's follow-on share offering

31 January 2022

BRF will issue 325 million new common shares

Brazilian meatpacker Marfrig Global Foods SA said on Friday its board approved the participation of the company in BRF's follow-on share offering, reported Reuters. 

According to the company's minutes, the offering - in which BRF will increase its capital through the issuance of 325 million new common shares - prompted analysts and market players to speculate if Marfrig intends to acquire a controlling stake in the company without the risk of triggering a poison pill. The latter is a tactic used by companies to make themselves unattractive to bidders who threaten the company with unwelcome takeover bids.

Marfrig currently holds a 33% stake in BRF.

Source: Reuters



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