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Chiquita, Fyffes announce $1.1B fusion

Mar 10, 2014 - The Deal Pipeline
Board and Executive Moves-Mergers and Acquisitions

Produce company Chiquita Brands International Inc.said Monday it would offer stock worth $526 million for Irish peer Fyffes plc to create a new global top banana with close to $4.6 billion in 2013 sales.

The stock-for-stock transaction will leave Chiquita shareholders with about 50.7% and Fyffes shareholders owning about 49.3% of a new company to be called ChiquitaFyffes. Fyffes shareholders will receive 0.1567 of a ChiquitaFyffes share for each Fyffes share, while the ratio for Chiquita s...