Chiquita and Cutrale/Safra Complete Tender Offer Agreement
NEW YORK, NY – As the clock struck midnight on Monday, January 5th in New York City, Cutrale/Safra's tender offer expired.
As AndNowUKnow previously reported, the companies had offered to purchase all outstanding shares of Chiquita common stock for $14.50 per share, net to the seller in cash, without interest and subject to any required withholding taxes. Computershare Trust Company, N.A., the depositary for the tender offer, has reported that 39,791,364 shares of Chiquita common stock were successfully tendered by the January 5th deadline. According to a press release, this represents roughly 84.46% of all outstanding Chiquita common stock shares. In addition, another 3.71% can also be accounted for through Notices of Guaranteed Delivery.
Going forward, Cutrale-Safra will be working to complete a “short-form” merger. Once this step is completed, all non-tendered shares of Chiquita stock will be canceled and converted into the right to receive $14.50 per share in cash, without interest, subject to any required withholding of taxes and Chiquita shares will cease to be traded on the New York Stock Exchange.
Congratulations on reaching on completing this important acquisition, Cutrale/Safra and Chiquita!
