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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 18, 2014
08:28 EDTCQBCutrale-Safra responds to Fyffes investor presentation to acquire Chiquita
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September 16, 2014
08:08 EDTCQBChiquita Brands, Fyffes working to obtain Phase I clearance from EC by Oct. 3
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September 10, 2014
09:37 EDTCQBChiquita Brands signs confidentiality agreement with Cutrale/Safra
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September 8, 2014
07:07 EDTCQBChiquita Brands provides update to holders
Chiquita Brands announced that it has postponed the Special Meeting of Shareholders to vote on the proposed transaction with Fyffes to October 3. The meeting had been scheduled for September 17. In addition, Fyffes proposes to seek adjournments of the Court Meeting and EGM convened for September 17 and, subject to any direction of the Irish High Court, to reconvene such meetings for October 3. The company also announced Fyffes has granted Chiquita a waiver that permits Chiquita to engage in discussions with the Cutrale Group and the Safra Group. Accordingly, Chiquita has sent a letter to Cutrale / Safra indicating its willingness to offer to Cutrale / Safra the opportunity to conduct focused due diligence and present its final and best offer. Chiquita does not expect to update the market with any further information unless and until the Board has reached a decision on a definitive course of action. In the interim, Chiquita continues to recommend that its shareholders vote "FOR" the Fyffes transaction and the other proposals on the WHITE proxy card.

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