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Tuesday, October 21, 2014

Glass Lewis suggests Chiquita weigh alternatives to Fyffes deal, (NYSE: CQB)

Shareholders of Chiquita Brands International Inc. should consider alternatives to a proposed merger with Irish produce firm Fyffes Plc, proxy advisory firm Glass Lewis said on Tuesday. Glass Lewis said Chiquita's board "continues to rely primarily on assumptions-driven analyses" of the combined entity's net present value.

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 1.48% or $0.19/share to $12.99. In the past year, the shares have traded as low as $9.24 and as high as $14.43. On average, 678174 shares of CQB exchange hands on a given day and today's volume is recorded at 140513.