Chiquita Confirms Receipt $14.50 Per Share Cutrale / Safra Offer

(RTTNews) - Chiquita Brands International, Inc. (CQB) confirmed Thursday that it has received a revised offer from entities affiliated with the Cutrale Group and the Safra Group to acquire all of the outstanding common stock of Chiquita at a price of $14.50 per share in cash.

On October 15, Chiquita's Board of Directors had rejected Cutrale / Safra's previous offer of $14.00 per share and reaffirmed its recommendation that Chiquita shareholders vote to approve the definitive deal between Chiquita and Fyffes plc (FFY.L).

Chiquita said its Board of Directors will carefully review and consider the revised Cutrale / Safra offer in light of the best interests of the company and its shareholders and consistent with its fiduciary duties.

The Chiquita Special Meeting of Shareholders is currently scheduled for October 24 to consider the Chiquita-Fyffes merger and other proposals.