Cutrale-Safra bid for Chiquita rejected

Cutrale-Safra bid for Chiquita rejected

M&A

US banana company Chiquita has rejected an unsolicited takeover offer from Brazilian agribusiness Cutrale and Banco Safra, saying it wants to proceed with plans to merge with Ireland’s Fyffes. Chiquita said Cutrale and Safra’s offer to acquire the US firm’s stock at $13 per share was “inadequate and not in the best interests of Chiquita shareholders”. “Chiquita remains committed to completing its transaction with Fyffes, which it believes will create a combined company that is better positioned

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