According to Bloomberg, Brazilian beef producer JBS may turn its $7.1 billion Pilgrim’s Pride unit into the parent of US operations in a so-called reverse merger after postponing an initial public offering of JBS USA.

“I would prefer to do the IPO of the U.S. unit, but a reverse merger of JBS USA and Pilgrim’s is possible,” Chief Executive Officer Joesley Batista told reporters in Sao Paulo.

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