The Brazilian firms hoping for a takeover of Chiquita Brands International (NYSE: CQB) have today raised their offer, in the latest twist of a long-running battle. 

Juice company the Cutrale Group and global investor the Safra Group increased their offer to US$14 per share, or about US$658 million, up from the previous US$13 per share, or US$611 million made in August.

Chiquita said it would carefully review and consider the offer.

Today's new offer comes as Chiquita was continuing to pursue a merger with Ireland-based Fyffes Plc (ESM: FFY), having recently received clearance from EU regulators who said there would be no negative effect on market competition.

Chiquita delayed its shareholder vote on the Fyffes deal from Oct. 3 to Oct. 24 in order to negotiate with Cutrale-Safra.

"Unlike the proposed combination with Fyffes, the superior Cutrale-Safra offer provides Chiquita shareholders complete certainty with respect to the value of their Chiquita investment," Cutrale-Safra said in a statement.

NGO Banana Link and the Latin American Banana Worker Syndicate Coordinator (COLSIBA) previously expressed concerns about what a Chiquita takeover would mean for social corporate responsibility, given Cutrale's unsavory labor rights track record on Sao Paulo citrus farms.

COLSIBA coordinator Gilbert Bermúdez described Cutrale as a "very aggressive" group that did not show respect for labor rights, that had been convicted by Brazilian courts for illegal outsourcing, had been fined for discriminating against pregnant women, and that had been charged with having poor conditions in worker housing; all cases that have occurred within the last two years.

Banana Link international coordinator Alistair Smith told www.freshfruitportal.com that a takeover of Chiquita by Cutrale and Safra threatened to jeopardize 15 years of the multinational's efforts to 'put its house in order' in terms of social dialogue and relations with its workforce.

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www.freshfruitportal.com