Brazilian meatpacker said last week that it has withdrawn a proposal to acquire the remaining shares of its US-based subsidiary Pilgrim's Pride, reported Reuters.

The company said in a securities filing it was unable to come to an agreement with Pilgrim's Pride regarding the terms of the proposed transaction.

In August, JBS, the world's largest meatpacker, announced its plan to acquire the remaining shares of Pilgrim's Pride, aiming to delist the company. At the time, JBS owned 80.21% of the firm.