Chiquita Rejects 610M Takeover Offer

Chiquita Rejects 610M Takeover Offer



CHARLOTTE, NC – Chiquita Brands International announced that its Board of Directors has unanimously determined that the unsolicited offer from the Cutrale Group and the Safra Group is inadequate and not in the best interests of Chiquita shareholders.

With the decision to reject the offer, Chiquita has determined not to furnish information to, and have discussions and negotiations with, the Cutrale Group and the Safra Group at this time, according to a press release.

To learn more about this offer, check out our previous article by clicking here.

A letter from Chiquita to the Cutrale Group and the Safra Group states, “After careful consultation with our legal and financial advisors, our Board of Directors has unanimously concluded that the Cutrale Group and the Safra Group's offer of $13.00 per share is inadequate and not in the best interests of Chiquita shareholders. Having made such a determination, Chiquita has determined not to furnish information to, and have discussions and negotiations with, the Cutrale Group and the Safra Group at this time. The Board continues to strongly believe in the strategic merits and value provided by the proposed transaction with Fyffes.”

The Chiquita Board of Directors has also unanimously reaffirmed its recommendation that Chiquita shareholders vote to approve the definitive merger agreement between Chiquita and Fyffes, according to a press release.

For more information on the Chiquita and Fyffes merger, check out our previous article by clicking here.

Stay tuned to AndNowUKnow as we continue to follow this merger and any potential takeover offers.

Chiquita

Fyffes

Cutrale

Safra Group



Companies in this Story


Chiquita

Chiquita is a leading global company with 20,000 employees across 70 countries. We are passionate about our nutritious,...

Fyffes

Fyffes, with an infrastructure that reaches across the globe, is one of the largest players in produce primarily involved...

Cutrale

OUR MISSION: To be a worldwide consistent source of high quality orange juice, its products and services, adding value to...

Safra Group

Banco Safra S.A. is a important and respected player in the Brazilian and international banking sector, ranking among the...