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Brazilian companies make bid for Chiquita

Brazilian companies make bid for Chiquita

(BDCi) – Juice company Cutrale and conglomerate Safra made a $611 million bid for Chiquita, the US banana group.

The Brazilian companies have offered $13 a share.

Following the announcement of the bid, Chiquita shares jumped 31 percent in New York.

The merger would create a banana company with a worth of $1 billion, the largest in the world.

A rival bid was offered by the Irish fruit firm Fyffes, whose shares have fallen 15 percent in London.