May 16, 2025 activistcompany

JBS S.A. Shareholders Approve Dual Listing on NYSE and B3

Key Summary: On May 15, 2025, Mason Capital Management (2.4%) urged SEC to investigate ISS and Glass Lewis over their recommendations against JBS S.A.’s proposed U.S. dual listing. On May 23, 2025, at an Extraordinary General Meeting, JBS S.A.’s minority shareholders approved the company’s dual listing proposal, allowing shares to be traded on both the New York Stock Exchange (NYSE) and the São Paulo Stock Exchange (B3).

Market Cap: $15 billion | JBS S.A., together with its subsidiaries, engages in the processing of animal protein worldwide.

On May 15, 2025, Mason Capital Management (2.4%) urged SEC to investigate ISS and Glass Lewis over their recommendations against JBS S.A.’s proposed U.S. dual listing, citing material analytical flaws, omitted economic benefits, and potential ideological bias. Mason urges shareholders to vote in favor and calls on the SEC to act swiftly given the upcoming May 23 vote. Source

On May 23, 2025, JBS’s shareholders approved the dual listing proposal at the Extraordinary General Meeting (EGM), overcoming opposition from proxy advisory firms and enabling JBS to move forward with listing its shares on both the New York Stock Exchange (NYSE) and the São Paulo Stock Exchange (B3).

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