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Stock Market & Financial Investment News

News Breaks
August 14, 2014
16:14 EDTCQBChiquita says board determines Cutrale/Safra offer not in best interests
Chiquita Brands announced that its board of directors unanimously determined that the unsolicited offer from the Cutrale Group and the Safra Group announced on August 11, to acquire all of the outstanding stock of Chiquita for $13.00 per share in cash, is inadequate and not in the best interests of Chiquita shareholders. Having made such a determination, Chiquita has determined not to furnish information to, and have discussions and negotiations with, the Cutrale Group and the Safra Group at this time. The Chiquita board has also unanimously reaffirmed its recommendation that Chiquita shareholders vote to approve the definitive merger agreement between Chiquita and Fyffes. Chiquita remains committed to completing its transaction with Fyffes, which it believes will create a combined company that is better positioned to succeed in a highly competitive marketplace, while driving strong performance and value for shareholders.
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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