Chiquita Up 31% on Takeover Bid; Dow Remains in Negative Territory for 2014
Despite all three U.S. indices ending the day in the green, the Dow slid back into negative territory for 2014. While job growth has been continuing to improve in the United States since the recession, it comes at a cost. Workers are earning around 23% less than earnings from the jobs which were lost. Chiquita's (CQB) shares were up 31% during the afternoon trading session after the banana company received an unsolicited takeover offer from its rival, Fyffes. This bid comes just 5 months after Chiquita announced plans to combine with Fyffes to become the world's largest banana distributor.
Word on the Street
Published on Aug 11, 2014By InvestorGuide Staff