JBS USA eyes an IPO (again)
Even if we weren’t in the middle of an out-of-control pandemic, it’d be a weird time for the U.S. subsidiary of Brazilian meatpacker JBS to go public. The company was accused of conspiring with other meatpackers to fix prices just two months ago. It recently bought a bankrupt lamb processor and former competitor with the intention of shuttering it, prompting calls for federal intervention. But if Airbnb can gun for an IPO when air travel is down 85 percent, why shouldn’t JBS? Food Dive reports that JBS USA may move to list its shares publicly. This is the umpteenth time we’ve heard as much from the company, which has been eyeing an IPO since “at least 2015,” but maybe this time it’s the real deal. Whether JBS USA is found culpable for chicken collusion (or just a wolf in a lamb-processor’s clothing) remains to be seen.