Call to postpone banana deal vote

The world’s leading investor advisory firm, Institutional Shareholder Services, has called for a postponement of a shareholder meeting aimed at approving the merger of Dublin-based banana distributor Fyffes and its US rival, Chiquita.

It emerged yesterday that Institutional Shareholder Services has urged Chiquita shareholders to adjourn their planned September 17 vote on the merger, in order to give the company’s board more time to consider other potential expressions of interest, with Brazilian juice maker, Cutrale, the main rival in the frame at present.

Chiquita and Fyffes shareholders are due to vote on the merger on the same day, with a completion of the deal expected by year end.