A group of cattle producers asked the U.S. Justice Department lask week to stop a Brazilian beef company from acquiring Pilgrim's Pride Corporation. The potential acquisition of Pilgrim's Pride is one of the steps the company is taking to emerge from bankruptcy. 

The plan would allow JBS SA to acquire 64 percent of Pilgrim's Pride for $800 million, leaving existing shareholders with 36 percent of the shares. A spokesperson for the cattle producers said they are blocking the acquisition attempt because they believe that it will give the Brazilian beef company a competitve advantage. 

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