Chiquita Brands sees Bananas EBIT margins of 4% by end of FY15 The company stated, "Chiquita's strategy remains to focus on its core products and to operate a branded commodity produce business with excellence. The company believes the actions it has taken year to date in 2014 enhance that strategy and position the company to remain on glidepath to our long term EBIT margin targets - to achieve run-rate target EBIT margins of 4% for Bananas and 7-8% for Salads by the end of 2015."
News For CQB From The Last 14 Days
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Chiquita Brands says Cutrale/Safra $13 per share offer not a 'superior' proposal Chiquita Brands announced it is mailing a letter to its shareholders that highlights key parts of a presentation the company filed with the SEC in which Chiquita "sets the record straight" regarding the "flawed and misleading" statements made by the Cutrale Group and the Safra Group in connection with Chiquita's proposed combination with Fyffes plc. According to Chiquita, the $13 per share offer does not constitute a "Superior Proposal" and the Board will not negotiate a sale of the company at an inadequate price. Chiquita added that Cutrale / Safra has had the opportunity to revise its proposal and has chosen not to do so and "there is no reason to delay or risk the ChiquitaFyffes transaction."