The presentation, which is available in the investor relations section of fyffes website, highlights a number of points such as fyffes proven track record in growing its business with over 50 successfully integrated acquisitions under current managements tenure, the longstanding. I love to create and share healthy and fun breakfast ideas. But the shareholder group said a recent revision that sweetened the fyffes purchase plan for chiquita investors gave the transaction an edge. Forwardlooking statements included in this document speak only as of the date of this document. Chiquita fyffes to create worlds largest banana company. Especially after a tepid market reaction to the fyffes deal, chiquita should adjourn a sept. Significant presence in packaged salads, melons and. The brazilian suitors trying to upend chiquita brands international inc.
The presentation is available on the investor relations section of the fyffes website. Since then, chiquita has twice pushed back a shareholder vote on the fyffes deal to give itself. According to chiquita and fyffes, the main advantage of the merger was to achieve. Chiquita seeks to reassure investors on deal for fyffes the. Mar 10, 2014 the two companies share some corporate history. A pair of brazilian suitors on friday slammed chiquita brands international inc. Under the all share deal, chiquita shareholders will own approximately 50. Chiquitafyffes is latest inversion deal to be called off. Group files investor presentation and addresses what it calls inaccurate information from cutralesafra partnership fyffes moves to correct inaccuracies products v. Hostile proposal from brazil duo threatens chiquita and. Fyffes, the irish banana company trying to merge with charlottebased chiquita brands international, told investors that the combination could be worth about 60 percent more per share than a rival. Oct 24, 2014 chiquitafyffes is latest inversion deal to be called off. The proposed chiquitafyffes limited chiquitafyffes offers a valuemaximising opportunity for chiquita shareholders. And fyffes plc to combine to create leading global produce company creates no.
Outlines valuemaximising opportunity for chiquita shareholders. These statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of hiquita and fyffes plc fyffes, including. Chiquita banana discover natures healthy energy boost. Chiquita brands international and dublinbased fyffes today announced that they plan to merge, replacing dole food as the worlds largest banana company. The presentation is available on the investor relations section of the fyffes. Chiquita and fyffes, following order of irish high court. Mar 10, 2014 fyffes to merge with chiquita and create worlds biggest banana company this article is more than 6 years old. Chiquita, fyffes reach revised merger agreement wsj. Fyffes and chiquita will be placed under the common control of a new holding company. Chiquita investors vote down fyffes inversion law360.
Cutralesafra stated that an investor presentation filed wednesday with the securities and exchange commission sec by fyffes is nothing more than a desperate attempt by fyffes to salvage. Chiquita rejects fyffes merger agreement and now u know. Chiquita to me stands for healthy eating, creative recipes, and fun ideas. Since 1929, it has sold fruit under its blue labela bluecolored label bearing the fyffes logo. Oct 20, 2014 chiquita shares fall ahead of key investor vote. The company is known as the worlds oldest fruit brand. But yuanxi zhang, a hedge fund analyst, says the chiquita fyffes deal is probably dead already. The fyffes brand is most closely associated with the banana industry, although it is applied to a wide range of fruits, including the fyffes gold pineapples and fyffes melons. Chiquita floats concessions to fyffes inversion deal law360. The only thing fyffes investor presentation does illustrate is fyffes desperation to salvage the proposed chiquita fyffes transaction. Neither chiquita nor fyffes undertakes any obligation to update its forwardlooking statements to reflect events or circumstances after the date of this document. It is headquartered in charlotte, north carolina, usa.
In 1986, an irish distributor then known as fruit importers of ireland acquired the fyffes brand from united brands, the company now known as chiquita. Glass lewis urges chiquita to forgo fyffes inversion law360. Aug 27, 2014 in addition, investors and shareholders will be able to obtain free copies of the definitive proxy statementprospectusscheme circular including the scheme and other documents filed by chiquita, fyffes and chiquitafyffes with the sec by contacting chiquita investor relations at. Cutralesafra responds to fyffes investor presentation. Cutralesafras 625 million usd bid to take over the american giant group has come to counteract the alternative proposal of a merger with irish peer fyffes. Mar 10, 2014 there can be only one blue banana label. On wednesday, fyffes filed the investor presentation. The changing role of multinational companies in the global banana trade.
Im sarah from germany and run the vegan food blog one slice more. Chiquita and fyffes join to make worlds biggest banana firm. Chiquitafyffes will ship 16 billion bananas a year and take a global market share of. Chiquita shareholders reject merger with irish company fyffes. Chiquita buys irelands fyffes to go global in banana. Fyffes to merge with chiquita and create worlds biggest. Brazilian suitors continue attack on chiquitafyffes deal. Chiquita and fyffes receive clearance from the european. Chiquita brands international and dublinbased fyffes today announced that they plan to merge, replacing dole food as. Oct 24, 2014 the proposed agreement with fyffes was an allstock deal, with the companies planning to incorporate in dublin to take advantage of lower tax rates. Merger momentum kept up on deal between fyffes and chiquita. Mar 12, 2014 two of the most recognized banana brands, chiquita and fyffes, have merged to create the largest producer of bananas in the world. Chiquita brands internationals future in charlotte entered a new phase of uncertainty friday as the companys shareholders spurned its board of directors and voted down a planned merger with.
Chiquita 125m fresh del monte 117m dole post disposal 110m fyffes 56m. Apr 17, 2020 fyffes files presentation on chiquita deal with sec. Chiquita misleading investors, spurned suitors say law360. Sep 18, 2014 cutralesafra stated that an investor presentation filed yesterday with the securities and exchange commission sec by fyffes is nothing more than a desperate attempt by fyffes to salvage its. Chiquita accepts cutrale, safra bid after investors reject. Parties presentation to investors on 10 march 2014. The presentation is available in the investor relations section of fyffes. The presentation points out that the deal offers a valuemaximising opportunity for chiquita shareholders. Combination with chiquita brands international 201kb pdf. Londonbanana suppliers chiquita brands international inc. Chiquita has accepted a third bid from brazilian juice manufacturer cutrale group and investment firm safra group after its shareholders rejected the us produce giants plan to merge with fyffes. Chiquita is now based in charlotte, north carolina. Fyffes files investor presentation with sec and corrects.
Chiquita chiquita is a leading international marketer and distributor of bananas, salads, other fruits and healthy snacking products. The changing role of multinational companies in the global. Oct 10, 2014 delisting and cancellation of trading of chiquita and fyffes and admission to trading of chiquitafyffes plc. They are not just about bananas but about eating more healthily and being more mindful about our food choices. A pair of brazilian bidders behind a spurned counterbid for chiquita brands international inc. That makes the chiquitafyffes deal the latest tax inversion to. Investor relations aprilmay 2016 fyffes overview operates in the international fresh produce sector portfolio products bananas, pineapples, melons, mushrooms. Fyffes has filed an investor presentation with the us securities and exchange commission giving further detail on the strategic rationale for. Fyffes files investor presentation further outlining. Chiquita and fyffes plan to complete the transaction before the end of 2014.
288 1492 761 1125 511 621 1541 293 1280 866 764 825 303 59 1532 884 1461 385 842 1069 1359 1418 1490 298 753 292 16 866 135 171 51 1241 620 539 1550 452 1346 35 385 269 1056 1144 837 315 1449 1235 627