Wednesday May 27, 2020

D-Day approaching for Fyffes's shareholders

The presence of a Brazilian conglomerate is complicating matters for the banana giant before September 17's shareholder meetings, writes Emma Kennedy.

7th September, 2014
David McCann, chairman of Fyffes, could becopme the boss of a global banana brand if a proposed merger with Chiquita closes. Picture: Tony O'Shea

Fyffes shareholders have an interesting ten days ahead, as D-Day draws closer for a proposed merger with market giant Chiquita.

The deal, which would see Fyffes’ boss David McCann take the reins of a global banana giant, looked less likely last month after a bid for Chiquita by Brazilian company Cutrale, backed by financial conglomerate Safra. Chiquita rejected the initial Brazilian bid, but analysts expected a second to follow.

As yet, it hasn’t, but...

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