BUZZ-Chiquita Brands International Inc: Cutrale-Safra sweetens offer

miércoles 15 de octubre de 2014 10:42 GYT

** Banana producer's shares up 4 pct at $13.69

** Brazilian juice maker Cutrale and global investment firm Safra Group raise buyout offer to $14 per share in cash from $13 per share

** The latest offer represent a premium of 6.4 pct to the stock's Tuesday close and of about 40 pct to the closing on Aug. 8, when the first offer was made

** The offer is also 19 pct higher than Chiquita's price based on the revised terms its merger transaction with Irish peer Fyffes Plc

** "Our offer...provides compelling value and certainty for Chiquita shareholders as compared with the proposed transaction with Fyffes," Cutrale-Safra says in a letter to Chiquita's board

** Fyffes has said it would boost Chiquita's share of the merged company to the Cutrale-Safra offer

** Up to Tuesday's close, Chiquita's shares had risen 30.8 pct since Cutrale-Safra's first made it bid in August