Brazil meatpacker Marfrig to partake in BRF's follow-on share offering
BRF will issue 325 million new common shares
31 January 2022
1 minute read
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
