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Chiquita shareholders reject Fyffes banana merger

2014-10-24 18:16:24| Agriculture - Topix.net

Chiquita shareholders rejected Friday a merger with European rival Fyffes that would have created the world's largest banana trader, opening the way for a $680 million takeover by Brazilian bidders. The board of Chiquita Brands said it had terminated talks with Fyffes and would begin discussions with Brazilian juice exporter Cutrale Group and investment bank Safra Group, which on Thursday raised their unsolicited bid for Chiquita to $14.50 a share.

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