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News Breaks
January 28, 2013
08:16 EDTCQBChiquita Brands reports Q4 preliminary revenue $738M, consensus $688.75M
The company expects Q4 comparable operating loss in the range of $10M-$20M and adjusted EBITDA in the range of $(3M)-$7M. The company expects Q4 operating loss on a U.S. GAAP basis to be in the range of $188M-$233M, including estimated non-cash goodwill and trademark impairment charges in the range of $170M-$205M along with restructuring, relocation and other exit charges. The company recognized $2M of restructuring expenses in the fourth quarter, $2M in costs related to relocation in the fourth quarter and $2M of estimated lease exit expense, net of estimated future sublease income, is excluded from comparable operating income in Q4. Consensus for EPS is (28c).
News For CQB From The Last 14 Days
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September 26, 2014
09:38 EDTCQBCutrale-Safra says to make Chiquita offer 'as expeditiously as possible'
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05:36 EDTCQBChiquita Brands, Fyffes announce revised transaction agreement
Chiquita Brands and Fyffes announced that the Boards of Directors of both companies have unanimously approved a revised agreement for the proposed combination of Chiquita and Fyffes. Under the terms of the amended agreement, Fyffes shareholders will now receive 0.1113 ChiquitaFyffes shares for each Fyffes share they hold and Chiquita shareholders will receive one ChiquitaFyffes share for each Chiquita share that they hold upon completion of the Combination. At that time, Chiquita shareholders are expected to own approximately 59.6% of ChiquitaFyffes, an increase from 50.7% under the previous agreement, and Fyffes shareholders are now expected to own approximately 40.4% of ChiquitaFyffes, on a fully diluted basis. The companies have also agreed to increase the termination fee payable to Fyffes from 1% to a more customary 3.5% of the total value of the issued share capital of Chiquita should the Combination be terminated under certain specified circumstances as detailed in the amended agreement. In addition, under the revised agreement, Fyffes will also have the right to terminate the Transaction Agreement if Chiquita shareholder approval is not obtained on or prior to October 24. In such event, Fyffes may be entitled to a termination fee if Chiquita enters into another transaction within nine months.
September 24, 2014
10:27 EDTCQBChiquita-Fyffes $526M merger to gain EU approval, Reuters says
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September 18, 2014
08:28 EDTCQBCutrale-Safra responds to Fyffes investor presentation to acquire Chiquita
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