Two Brazilian firms bid for Chiquita
August 12 , 2014
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).”