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Chiquita Going Bananas On Deal News

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Chiquita Brands (NYSE: CQB) is trading up 31 percent on news that The Cutrale Group and The Safra Group are looking to acquire Chiquita for $13.00 per share in an all-cash deal.

In a letter to Chiquita Chairman Kerri Anderson, Michael Rubinoff (on behalf of the Cutrale Group and the Safra Group) stated, "Together, we are confident that this Transaction offers compelling and more certain value for Chiquita shareholders as compared with the proposed transaction with Fyffes plc and significantly enhances Chiquita's business potential."

This price is a 29 percent premium to Friday's closing price of $10.06.

Posted-In: News M&A


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