Cutrale and Safra sweeten Chiquita takeover offer

Brazil’s Cutrale Group and Safra Group again increased their unsolicited joint bid to buy banana producer Chiquita Brands International in an offer worth about $686m (€542m).

Cutrale-Safra sweetened its offer to $14.50 a share, the joint bidders said in an e-mailed statement, up from an earlier proposal of $14. The offer expires on Sunday. Chiquita said in a statement it will consider it.

Shareholders of Charlotte, North Carolina-based Chiquita are scheduled to vote today on the acquisition of Irish competitor Fyffes.