Brazil Companies Bananas for Chiquita: Another Valeant Effort for Allergan?; Cruisin for an iBruisin’

Top banana…

Image courtesy of Aduldej/FreeDigitalPhotos.net

Image courtesy of Aduldej/FreeDigitalPhotos.net

As you were sitting at the edge of your seat waiting for weeks now to find out who would be victorious in the corporate battle to acquire Chiquita (yes – the banana people), you can now relax as a winner has emerged. Actually two of them. Brazilian companies, The Safra Group and Cutrale Group, both of which happened to be owned by two of the wealthiest men in Brazil, scooped up the fresh fruit seller to the ripe number of $681 million. But, alas, what became of Irish company Fyffes, who was also bidding on Chiquita, and which many thought would get the fresh fruit company? Well, it wasn’t the luck of the Irish but rather the votes of the shareholders who preferred the Brazilians’ offer. You see Fyffes was offering up stock in exchange for Chiquita. But with Safra/Cutrale’s offer, shareholders get to see more cash up front. And who doesn’t like a little cash up front? Besides, the inversion appeal of Fyffes wasn’t going to net Chiquita all that much to make the transaction worthwhile for Chiquita. But don’t feel too bad for Fyffes. The Irish firm stands to gain a break up fee worth as much as $23 million.

Ironing out the wrinkles…

Image courtesy of artemisphoto/FreeDigitalPhotos.net

Image courtesy of artemisphoto/FreeDigitalPhotos.net

Canadian company Valeant Pharmaceuticals still so very badly wants to takeover Irvine, California-based Allergan. And why not? Allergan makes everybody’s favorite wrinkle-smasher Botox. Allergan also happens to make Latisse, another invaluable, behind the counter, yet highly-essential beauty cosmetic, in my opinion. It also helps that Allergan reported net income of $312.5 million on $1.8 billion in revenue. The stock nearly doubled over the past year. In fact, Valeant wants Allergan so so so badly, that it is once again upping its offer from $179 per share to around $200 per share. And if it has to happen hostilely, then so be it. Which it probably will, mind you. A  “special” shareholder’s meeting is taking place on December 18 where replacing board members will be the theme of the day (in particular, the ones opposing Valeant’s offer). Besides Valeant, Bill Ackman, of Pershing Square Capital Management LP would also like to see a “few” changes made to Allergan’s board as he has a hefty stake in the Botox-making company and would be tickled pink to see Allergan gobbled up by Valeant.

Maybe it’s not you after all…

Image courtesy of sattva/FreeDigitalPhotos.net

Image courtesy of sattva/FreeDigitalPhotos.net

Technology is grand. But maybe not so much in your new car. At least according to Consumer Reports 2014 Annual Auto Reliability Survey. Turns out all those really cool super awesome electronic features that you absolutely have to have are putting a damper on the overall quality of your ride. There are 23 million of us out there who have internet “savvy” cars. By 2020, that number will hit 152 million users. But the problem now, in 2014, is that in-car electronics defects logged the most complaints in 17 categories of the survey. In fact, the problem was called, ahem, “a growing first year reliability plague.” Ouch. Drivers start to question the overall quality of their vehicles when electronic issues begin to arise. Want the most reliable car? Lexus took the number one spot. The Infiniti Q50 sedan, however, took a big hit plunking down to the number 20 spot.

 

 

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