JBS-Friboi, the largest producer and exporter of beef in Latin America, had made a bid for North American meat packer Swift & Co.
It is estimated that the bid will be around $1.5 billion, but JBS-Friboi had no comment.
The Brazilian company, which launched its shares on the local market in April, said in a statement it could offer no further information about the negotiations, the value or the terms of the bid.
Swift is the third largest beef and pork processor in the United States, with annual sales of about $9 billion. Based in Colorado, it is also the largest beef processor in Australia.
JBS-Friboi slaughters about 22,600 head of cattle a day in its 21 plants across eight states in Brazil and five plants in three provinces of Argentina.
â€¢ Swift & Co
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