CHARLOTTE, NC – The Cutrale and Safra Group has once again extended the deadline for the Chiquita tender offer. The new deadline is now January 5, 2015.
This tender offer, which prices each Chiquita share at $14.50/share, net to the seller in cash, without interest and subject to any required withholding taxes, is the capstone of months of negotiations between Cutrale/Safra and Chiquita.
The Charlotte Business Journal reports that 82% of the Chiquita shares have been submitted since October 27. That number is up from the 73.5% tendered as of the first week of December.
Cutrale/Safra has also taken initial steps toward paying off Chiquita’s debt as part of the acquisition. Last week, it notified Wells Fargo & Co. that it intends to redeem $42.5 million in debt the bank issued in February 2013, according to the Business Journal.
Stay tuned to AndNowUKnow as we continue to track this acquisition.
