Chiquita Brands (CQB) to Acquire Fyffes

Shares of Chiquita Brands International Inc. (CQB) closed up +1.16 or +10.7 percent to $12.00 per share in regular trading on Tuesday. Early Wednesday, the company announced its plans to acquire its European counterpart, Fyffes, for $526 million. The merged entity, which will be called ChiquitaFyffes, will become the largest banana supplier and distributor in the world, with estimated annual revenues of $4.6 billion.

Nevertheless, the deal is yet to be approved and could run into regulatory issues due to its anti-trust implications. Currently, four companies â

Published on Mar 11, 2014
By Jay Hawk
Jay Hawk
Jay Hawk enjoyed a 12-year professional financial markets career incorporating extensive first hand futures and options experience obtained by trading in the stock, commodity and forex markets on U.S. exchanges. Since retiring as a full-time financial market professional, he has been actively trading stock, commodities, forex and options for his own account and managing funds for others, as well as writing financial market commentary and educational articles.

Copyrighted 2020. Content published with author's permission.

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