Manufacturing & Supply Chain

Chiquita Rejects Offer From Cutrale Group and Safra Group

 Breaking News

Chiquita Rejects Offer From Cutrale Group and Safra Group

Chiquita Rejects Offer From Cutrale Group and Safra Group
August 19
11:09 2014
Spread the love

The board of directors of Chiquita Brands International has unanimously decided that the unsolicited offer from the Cutrale Group and the Safra Group announced on August 11, 2014, to acquire all of the outstanding stock of Chiquita for $13.00 per share in cash, is inadequate and not in the best interests of Chiquita shareholders.

The board has also unanimously reaffirmed its recommendation that Chiquita shareholders vote to approve the proposed merger agreement between Chiquita and Fyffes. This agreement will create ChiquitaFyffes, a global banana and other fresh produce company with approximately $4.6 billion in annual revenues. On completion of the deal, Chiquita shareholders will own approximately 50.7% of ChiquitaFyffes, and Fyffes shareholders will own approximately 49.3% of the merged business, on a fully diluted basis.

 

About Author

mike

mike

Related Articles

Follow me on Twitter

New Subscriber

    Subscribe Here



    Advertisements

































    National Manufacturing Conference & Exhibition 2020

    NIBRT Springboard Success Stories