Deals
Chiquita to Move on Fyffes After Rejecting Buyout Offer
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Chiquita Brands International Inc. will proceed with its 352 million-euro ($449 million) bid to buy rival banana producer Fyffes Plc after rejecting a higher takeover offer from Brazil’s Cutrale Group and Safra Group.
The Cutrale-Safra bid of $14 a share for Chiquita, raised from an initial $13, is “inadequate,” Charlotte, North Carolina-based Chiquita said in a statement after the close of trading yesterday.