Gold Kist Advises Stockholders to Take No Action at This Time in Response to Pilgrim's Pride Corporation's Unsolicited Tender Of
28 September 2006 - 8:37PM
Business Wire
Gold Kist Inc. (NASDAQ:GKIS) requests that its stockholders take no
action at this time in response to Pilgrim�s Pride Corporation�s
(NYSE:PPC) announcement that it is commencing an unsolicited tender
offer to acquire all outstanding shares of common stock of Gold
Kist at a price of $20.00 per share. Gold Kist�s Board of Directors
will carefully review the terms of the unsolicited tender offer,
which is at the same price as Pilgrim�s unsolicited proposal
announced on August 18, 2006. The Board, in accordance with its
fiduciary duties, will review and consider Pilgrim�s unsolicited
tender offer and will make a recommendation to stockholders on or
before October 12, 2006. Merrill Lynch & Co. and Gleacher
Partners LLC are acting as financial advisors to Gold Kist and
Alston & Bird LLP and Richards, Layton & Finger are serving
as outside legal counsel. We will file a proxy statement in
connection with our 2007 annual meeting of stockholders. Our
stockholders are strongly advised to read the proxy statement when
it becomes available, as it will contain important information.
Stockholders will be able to obtain the proxy statement, any
amendments or supplements to the proxy statement and other
documents filed by the Company with the Securities and Exchange
Commission for free at the Internet website maintained by the
Securities and Exchange Commission at www.sec.gov. Copies of the
proxy statement and any amendments and supplements to the proxy
statement will also be available for free at the Company�s Internet
website at www.goldkist.com or by writing to Gold Kist Inc., Attn:
Investor Relations, 244 Perimeter Center Parkway, N.E., Atlanta,
Georgia 30346. In addition, copies of the proxy materials may be
requested by contacting our proxy solicitor, MacKenzie Partners,
Inc. at (800) 322 2885 toll-free or by email at
proxy@mackenziepartners.com. Detailed information regarding the
names, affiliations and interests of individuals who may be deemed
participants in the solicitation of proxies of Gold Kist Inc.
stockholders is available on Schedule 14A filed with the Securities
and Exchange Commission on August 21, 2006. About Gold Kist Gold
Kist is the third largest chicken company in the United States,
accounting for more than nine�percent of chicken produced in the
United States in 2005. Gold Kist operates a fully-integrated
chicken production business that includes live production,
processing, marketing and distribution. Gold Kist�s operations
include nine divisions located in Alabama, Florida, Georgia, North
Carolina and South Carolina. For more information, visit the
company�s Web site at http://www.goldkist.com. Gold Kist Inc.
(NASDAQ:GKIS) requests that its stockholders take no action at this
time in response to Pilgrim's Pride Corporation's (NYSE:PPC)
announcement that it is commencing an unsolicited tender offer to
acquire all outstanding shares of common stock of Gold Kist at a
price of $20.00 per share. Gold Kist's Board of Directors will
carefully review the terms of the unsolicited tender offer, which
is at the same price as Pilgrim's unsolicited proposal announced on
August 18, 2006. The Board, in accordance with its fiduciary
duties, will review and consider Pilgrim's unsolicited tender offer
and will make a recommendation to stockholders on or before October
12, 2006. Merrill Lynch & Co. and Gleacher Partners LLC are
acting as financial advisors to Gold Kist and Alston & Bird LLP
and Richards, Layton & Finger are serving as outside legal
counsel. We will file a proxy statement in connection with our 2007
annual meeting of stockholders. Our stockholders are strongly
advised to read the proxy statement when it becomes available, as
it will contain important information. Stockholders will be able to
obtain the proxy statement, any amendments or supplements to the
proxy statement and other documents filed by the Company with the
Securities and Exchange Commission for free at the Internet website
maintained by the Securities and Exchange Commission at
www.sec.gov. Copies of the proxy statement and any amendments and
supplements to the proxy statement will also be available for free
at the Company's Internet website at www.goldkist.com or by writing
to Gold Kist Inc., Attn: Investor Relations, 244 Perimeter Center
Parkway, N.E., Atlanta, Georgia 30346. In addition, copies of the
proxy materials may be requested by contacting our proxy solicitor,
MacKenzie Partners, Inc. at (800) 322 2885 toll-free or by email at
proxy@mackenziepartners.com. Detailed information regarding the
names, affiliations and interests of individuals who may be deemed
participants in the solicitation of proxies of Gold Kist Inc.
stockholders is available on Schedule 14A filed with the Securities
and Exchange Commission on August 21, 2006. About Gold Kist Gold
Kist is the third largest chicken company in the United States,
accounting for more than nine percent of chicken produced in the
United States in 2005. Gold Kist operates a fully-integrated
chicken production business that includes live production,
processing, marketing and distribution. Gold Kist's operations
include nine divisions located in Alabama, Florida, Georgia, North
Carolina and South Carolina. For more information, visit the
company's Web site at http://www.goldkist.com.
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