Chiquita, Fyffes adjust merger terms to give shareholders in US company a bigger stake

StocksAssociated Press

Changes to the proposed merger agreement between Chiquita and the Irish fruit company Fyffes will give Chiquita shareholders a larger stake in what would become the world's largest banana supplier.

The companies said Friday that shareholders of Chiquita Brands International Inc., under the revised deal, will hold nearly a 60 percent stake, up from about 51 percent. Shareholders of Fyffes PLC will hold about a 40 percent stake.

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The new company would be incorporated in Dublin, where Fyffes is headquartered. Chiquita is based in Charlotte, North Carolina.

Chiquita also is still talking with two Brazilian companies that have offered to buy the U.S. banana company for $611 million.