15th Aug 2014 05:58
LONDON (Alliance News) - Chiquita has rejected a takeover bid from Brazilian firms Cutrale and Safra, saying it would stick with its plan to merge with Ireland-based fruit seller Fyffes PLC, the BBC reported Friday.
Fruit juice company Cutrale and investment bank Safra made a bid for the banana company on Monday of USD611 million, throwing into doubt the merger of Fyffes and Chiquita which had been agreed in March.
Chiquita said the new offer was "inadequate" and that it would not hold talks with the groups "at this time," the BBC said.
http://www.bbc.co.uk/news/business-28798798
By Sam Unsted; [email protected]; @SamUAtAlliance
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