International Inc., owner of the namesake banana label, received an unsolicited $611 million takeover offer that envisages the company scrapping its pending takeover of Irish competitor Fyffes Plc.Juice maker Cutrale Group and Safra Group said today in a joint statement that they’re offering $13 a share for Charlotte, North Carolina-based Chiquita. The proposal is 29 per cent more than Chiquita’s closing share price on 8 August and isn’t subject to financing conditions, Cutrale and Safra said.
“If we are able to proceed on a timely basis with due diligence and discussions, we will be in a position to close the transaction before the end of the year, within the same timeframe you have indicated for the Fyffes transaction,” Cutrale and Safra said in a letter to Chiquita’s management, a copy of which was included in the statement.
The Chiquita-Fyffes deal, which was announced in March, would bring together two of the world’s oldest fruit importers, who between them have operations spanning the Americas, Europe and Asia.
