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Two Brazilian firms bid for Chiquita

  • Brazilian firms Cutrale and Safra made a $611m bid for Chiquita, the American banana group, according to media reports.

    They have offered $13 per share, which is a 29% premium to the Friday closing share price of the US firm. While Cutrale is a juice-maker, Safra is a conglomerate. After the announcement of the bid, there was a 31% hike in Chiquita shares.

    The Brazilian companies have said that their offer “is clearly more favorable to the Chiquita shareholders than the proposed merger with Fyffes (another banana firm).”

     

     

     

    Tagged as: Brazilian firms, Cutrale, Safra, bid, Chiquita, banana, Fyffes, business news