SAO PAULO, Oct 17 (Reuters) - Brazilian juice maker Grupo Cutrale and investment firm Safra Group maintained on Friday their $14-per-share definitive offer for Chiquita Brands International Inc. adding that it will remain binding through Oct 26.
In a statement, the consortium said the board of Charlotte, North Carolina-based Chiquita continues to mislead the company’s shareholders about the definitive takeover offer, while inflating the value of a planned merger with Irish rival Fyffes Plc. On Thursday, the board of Chiquita said a takeover bid by Cutrale and Safra was “inadequate” and again recommended shareholders back the Fyffes transaction.
Cutrale-Safra will submit a letter to Chiquita’s board confirming its definitive offer, which will remain binding through Oct 26, two days after a special shareholder meeting scheduled to vote on the Chiquita-Fyffes deal, the statement said.
Reporting by Guillermo Parra-Bernal Editing by W Simon