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Stock Market & Financial Investment News

News Breaks
August 11, 2014
15:00 EDTCQBChiquita Brands confirms $13 per share offer, says 'will review carefully'
Chiquita Brands confirmed that it has received an unsolicited offer from the Cutrale Group and the Safra Group to acquire all of the outstanding common stock of Chiquita at a price of $13.00 per share in cash to Chiquita shareholders. "Consistent with its fiduciary duties, Chiquita's Board of Directors, in consultation with its legal and financial advisors, will carefully review and consider the offer to determine the course of action that it believes is in the best interests of the Company and its shareholders. Chiquita shareholders are advised to take no action at this time and to await the Board's recommendation. Chiquita will have no further comment on the Cutrale Group and the Safra Group's offer until the Board has completed its review," the company stated.
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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