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UPDATE 1-Chiquita board rejects Cutrale-Safra offer, may weigh improved bid
2014-10-17 07:20:28| Food - Topix.net
The board of Chiquita Brands International Inc on Thursday said a takeover bid by Brazilian juice maker Grupo Cutrale and investment firm Safra Group was "inadequate," and again recommended shareholders back a tie-up with Irish rival Fyffes Plc. The board of Charlotte, North Carolina-based Chiquita said in a statement that Cutrale-Safra's definitive, $14 a share offer "is not in the best interests" of shareholders, who have no assurances that the takeover proposal would remain available past Oct. 24 should a vote on the Fyffes transaction fail.
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