Deals
Cutrale-Safra Raises Offer for Chiquita to $658 Million
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Brazil’s Cutrale Group and Safra Group boosted their offer to buy Chiquita Brands International Inc. to about $658 million, raising pressure on the banana producer to cancel its planned purchase of an Irish competitor.
Cutrale-Safra increased its offer to $14 a share, the joint bidders said today in an e-mailed statement, 7.7 percent more than their initial, unsolicited proposal of $13. The transaction would be financed with equity from affiliates of Cutrale and Safra and isn’t subject to financing conditions.