This vote was the final step needed to begin the merger, which is planned to occur Jan. 1, 2015. AMI's board approved the merger on April 2, while NAMA's board gave its nod on March 22. The merged super-organization will be called the North American Meat Institute (NAMI). NAMI represents companies that process 95 percent of red meat and 70 percent of turkey products in the US and their suppliers throughout America. Late in May, Pilgrim's Pride Corp., which is majority-owned by JBS SA, Sáo Paulo, Brazil, submitted an all-cash offer of $45 per share to acquire Chicago-based Hillshire Brands Co. If completed, the transaction would have been valued at approximately $6.4 billion. The acquisition also would have been contingent on Hillshire Brands terminating its earlier agreement to acquire New Jersey-based the Pinnacle Foods Group, which was announced May 12.