Chiquita turns down acquisition offer

August 18, 2014

Chiquita Brands International Inc. has announced that its Board of Directors unanimously determined that the unsolicited offer from the Cutrale Group and the Safra Group announced on Aug. 11, 2014, to acquire all of the outstanding stock of Chiquita for $13.00 per share in cash, is inadequate and not in the best interests of Chiquita shareholders. The Chiquita Board of Directors has also unanimously reaffirmed its recommendation that Chiquita shareholders vote to approve the definitive merger agreement between Chiquita and Fyffes.

Chiquita remains committed to completing its transaction with Fyffes, which it believes will create a combined company that is better positioned to succeed in a highly competitive marketplace, while driving strong performance and value for shareholders.

Press release