With the Obama administration looking to crack down on so-called inversion deals, deal makers say the new offer that emerged for Chiquita Brands International Monday may be a sign of what’s coming next.
Chiquita inked a deal in March to acquire Irish tropical fruit maker Fyffes in a transaction that would see Chiquita adopt Ireland as its new corporate home. The transaction was thought to be designed, at least in part, to help Chiquita lower its tax rate, even though the company downplayed the tax angle. When it was announced, the companies said they expected the transaction to close by year-end.