Orange juice supplier and agribusiness firm
The bid, which the Cutrale-Safra team said was not subject to financing, represents a 29% premium to the stock's
Shares of Charlotte-based Chiquita closed up 30.2% at
The proposal came five months after Chiquita said it would combine with
"We are confident that this transaction offers more compelling and more certain value for Chiquita shareholders," the Cutrale-Safra team wrote in a letter to Chiquita Chairwoman
Chiquita said it would review the offer and "determine the course of action that it believes is in the best interests of the company and its shareholders."
Chiquita accounts for 22% of global banana exports by volume, according to Banana Link, an
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