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Monday, September 8, 2014

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

Banana producer Chiquita Brands International Inc said Fyffes Plc has granted a waiver to engage in discussions with juice maker Cutrale and investment firm Safra Group regarding their $611 million takeover bid. Chiquita said it has sent a letter to the two firms, saying it was willing to hear another offer.

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 traded higher by 0.29% or $0.04/share to $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 712973.