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

BRF will issue 325 million new common shares
calendar icon 31 January 2022
clock icon 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

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