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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).
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October 27, 2014
08:09 EDTCQBCutrale-Safra to acquire Chiquita for $14.50 per share cash
Chiquita Brands International and the Cutrale-Safra group announced a definitive merger agreement. Under the merger agreement, which has been unanimously approved by the Chiquita board of directors, Cutrale-Safra will acquire all outstanding common shares of Chiquita for $14.50 per share in cash. The $14.50 per share consideration to be received by Chiquita shareholders represents a 33.8% premium to Chiquita's closing price on March 7, the last trading day prior to the announcement of Chiquita's transaction with Fyffes plc. The transaction is valued at approximately $1.3B, including the assumption of Chiquita's net debt. The merger agreement between Cutrale-Safra and Chiquita provides for Cutrale-Safra to commence a tender offer and following the closing of the tender offer to acquire all remaining shares through a merger. The transaction is not subject to any financing conditions. The transaction is expected to close by the end of the year or early 2015. Following the close of the transaction, Chiquita will become a wholly owned subsidiary of the Cutrale-Safra group, and remain incorporated in New Jersey.
October 24, 2014
12:36 EDTCQBChiquita downgraded to Hold from Buy at BB&T
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10:15 EDTCQBHigh option volume stocks
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09:31 EDTCQBChiquita shareholders vote down merger with Fyffes
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09:28 EDTCQBChiquita says shareholders reject merger with Fyffes
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07:10 EDTCQBChiquita considered Cutrale/Safra offer, reaffirms Fyffes merger recommendation
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October 23, 2014
12:50 EDTCQBWynnefield affirms support of Chiquita takeover by Cutrale-Safra
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10:13 EDTCQBChiquita says board will 'carefully review' new Cutrale/Safra offer
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09:03 EDTCQBCutrale-Safra raises buyout offer for Chiquita to $14.50 per share
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08:55 EDTCQBCutrale-Safra raises Chiquita acquistion offer to $14.50 per share from $14
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October 21, 2014
12:29 EDTCQBChiquita retiterates 'value' of combination with Fyffes
Chiquita Brands reiterated the value of Chiquita's combination with Fyffes and set the record straight regarding the inaccurate and misleading statements made by the Cutrale Group and the Safra Group in an attempt to support its inadequate $14.00 per share offer to acquire Chiquita. The company said, "The strategic benefits of the Chiquita/Fyffes merger are clear and allow Chiquita shareholders to participate in the significant upside potential of the combined organization. Chiquita shareholders will share access to $62M of Fyffes EBITDA and share in $60M of identified, third party reviewed synergies in the combined company with clear and actionable steps identified in each synergy area. Chiquita shareholders will also retain the option to sell ChiquitaFyffes at a premium in the future."
October 20, 2014
10:30 EDTCQBISS recommends Chiquita shareholders vote for combination with Fyffes
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08:52 EDTCQBWynnefield rejects Chiquita-Fyffes proposal
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