Filing Flows › JBS N.V. (JBS) › Takeover & LBO
Is JBS N.V. (JBS) a takeover target?
A leveraged buyout at today's price plus 30% ($16.85 a share) would return about 1% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $11.94 a share (−8% against today's $12.96).
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $16.85 | today's $12.96 plus 30% |
| × shares | 3,289.4 million | |
| = Equity value | $55.4B | |
| + Debt refinanced | $0 | |
| − Cash | $0 | |
| = Enterprise value | $55.4B | 8.6× EBITDA of $6.5B |
| Fees | $1.1B | 2% of the price |
| New debt | $35.6B | 5.5× EBITDA at 7.65% a year; the limit that binds: 5.5× EBITDA |
| Buyer's own money | $21.0B | 37% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $88.8B | $6.7B | $2.7B | $1.3B | $34.3B |
| Year 2 | $91.4B | $6.9B | $2.6B | $1.5B | $32.8B |
| Year 3 | $94.2B | $7.1B | $2.5B | $1.7B | $31.1B |
| Year 4 | $97.0B | $7.3B | $2.4B | $1.9B | $29.2B |
| Year 5 | $99.9B | $7.5B | $2.2B | $2.2B | $27.1B |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 6.6× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $49.4B | |
| − Debt left | $27.1B | |
| = Buyer's equity | $22.4B | |
| Money multiple | 1.07× | on $21.0B put in |
| Buyer's yearly return (IRR) | 1.3% |
Price against return
What the buyer makes at other premiums over today's $12.96; the IRR reaches 20% at $11.94 a share.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $14.26 | 11.1% |
| 20% | $15.55 | 6.2% |
| 30% | $16.85 | 1.3% |
| 40% | $18.14 | −2.4% |
| 50% | $19.44 | −5.5% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $86.2B | |
| EBITDA, last 12 months | $6.5B | 7.5% of revenue |
| Depreciation and amortization | $2.3B | |
| Capital spending | $2.1B | |
| Debt | $0 | |
| Cash | $0 | |
| Share price | $12.96 | on Nov 6, 2026 |
Fixed rules, the same as the interactive view's starting point: the shares are bought at today's price plus 30%, the company's debt is refinanced and fees take 2%. New debt is the least of 5.5× EBITDA, 65% of the price and the amount whose interest EBITDA covers 2 times, at 7.65% a year (SOFR 3.89% plus the high-yield B spread 3.26% plus 0.5%, rates of Oct 15, 2026). Revenue grows 3.0% in the first year — the company's own rate, held between −3% and +8% — fading to 3% by year 5; the EBITDA margin, depreciation and capital spending stay at today's share of revenue; working capital takes 10% of each year's added revenue; tax is 15% of profit after interest. Every dollar of free cash flow repays debt. After 5 years the buyer sells at today's multiple of EBITDA.
What a takeover could cost
Takeovers on record paid a median premium of 32.5% over the share price before the deal (the middle half 20% to 51.8%), according to the 1,437 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, JBS N.V. would cost about $17.17 a share, $56.5B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 20% | $15.55 | $51.2B |
| Median | 32.5% | $17.17 | $56.5B |
| High end (a quarter paid more) | 51.8% | $19.67 | $64.7B |
JBS N.V.'s latest quarter
JBS N.V., Q2 2026: revenue $23.9B (+14% year over year), operating margin 2.5%, net loss $96.2M. The chart follows the revenue to costs, profit and cash.
Questions
Is JBS N.V. being acquired?
No headline, 8-K or 13D about a sale is on file in the last year.
Could private equity buy JBS N.V.?
A leveraged buyout at today's price plus 30% ($16.85 a share) would return about 1% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $11.94 a share (−8% against today's $12.96).
What would a takeover of JBS N.V. cost?
Takeovers on record paid a median premium of 32.5% over the share price before the deal (the middle half 20% to 51.8%), according to the 1,437 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, JBS N.V. would cost about $17.17 a share, $56.5B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.