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Monday, September 8, 2014

Chiquita gets Fyffes waiver to talk with Cutrale, Safra, (NYSE: CQB)

Banana producer Chiquita Brands International Inc said Fyffes Plc has granted it a waiver to engage in discussions with Cutrale and Safra Group regarding their $611 million takeover bid.Chiquita, which last month rejected the bid from the Brazilian companies, has been attempting to close a merger with Fyffes, announced in March.Fyffes shares were down 2.08 percent at 0.94 euros on the Irish Stock Exchange on Monday. Chiquita's shares were up 3 percent at $14.17 before the bell.Safra, a global banking and real estate group, and Cutrale, a juice maker, had offered $13 per share in cash to Chiquita shareholders.

Chiquita Brands International, Inc. (CBII), along with its subsidiaries, is an international marketer and distributor of bananas and other fresh produce, sold under the Chiquita and other brand names in 70 countries, and packaged salads sold under the Fresh Express and other brand names primarily in the United States. Shares of CQB remained unchanged at $13.75. In the past year, the shares have traded as low as $9.24 and as high as $14.30. On average, 545497 shares of CQB exchange hands on a given day and today's volume is recorded at 0.