Cutrale/Safra Extends Deadline for Tender Offer to Chiquita
NEW YORK, NY – The Cutrale and Safra Group have shared through their affiliate, the Cavendish Acquisition Corporation, that the deadline for the tender for all outstanding shares of common stock of Chiquita Brands International, Inc. has been extended to 12:00 midnight, New York City time, at the end of the day on Tuesday, December 23, 2014, unless further extended or terminated. All other terms and conditions of the tender offer remain unchanged, according to a press release.
This tender offer, which prices each Chiquita share at $14.50/share, net to the seller in cash, without interest and subject to any required withholding taxes, is the capstone of months of negotiations between Cutrale/Safra and Chiquita.
As of December 3, 2014, merger antitrust filings have been made with antitrust authorities in:
- The United States (under the HSR Act)
- The European Union
- Switzerland
- Ukraine
- Russia
- Turkey
- Ecuador
- Costa Rica
Cutrale/Safra shares that it expects to accept all shares of Chiquita common stock for payment by the end of the first half of January 2015, at the latest. The companies do caution, however, that all timetable are subject to changes by regulatory boards in the several associated jurisdictions and could be moved up in the event of early termination of antitrust concerns.
