Chiquita Saga 'Not Over Yet' Says Analyst
Published on Aug 18 2014 5:45 AM in Fresh Produce
The battle for control of Chiquita is "not over yet", according to Goodbody analyst Patrick Higgins.
Higgins suggests that Cutrale-Safra, the group whose bid to take control of Chiquita last week was rejected, may be readying "a more hostile stance going forward."
Chiquita issued a statement last week, saying that the Cutrale-Safra bid was 'inadequate' and 'not in the best interests of shareholders'.
"Cutrale-Safra were quick to respond, expressing their disappointment and noting that they are now considering all alternatives, including appealing directly to Chiquita shareholders," said Higgins.
As this saga enters a new week, shareholders will be eager to see what Cutrale-Safra's next move is.