Chiquita Brands International Inc. is postponing its special shareholders meeting to vote on its proposed merger with Irish fruit company Fyffes and is seeking a new offer from competing bidders.
Chiquita said Monday it has received a waiver from Fyffes allowing it to hold talks with investment firm Safra Group and Brazilian agribusiness and juice company Cutrale Group. Chiquita has sent a letter to Cutrale and Safra to put forth their best and final offer.
Continue Reading Below
In August, Chiquita rejected a $611 million buyout offer from Safra and Cutrale.
The special meeting, which was scheduled for Sept. 17, will now be held Oct. 3.
Chiquita and Fyffes announced in March that they would combine to create a new company called ChiquitaFyffes PLC, based in Dublin, where Fyffes has its headquarters.
Chiquita is based in Charlotte, North Carolina.