Shareholders at Chiquita have rejected a proposed merger with Fyffes. A merger between the two companies would have created the largest banana company in the world.

It also would have meant Chiquita could have relocated its headquarters to Ireland to join Fyffes.

Fyffes executive chairman, David McCann, commented: "We will continue to focus on successfully developing our business for the benefit of all stakeholders. We extend our gratitude to Ed Lonergan and the Chiquita team for their professionalism during the process and wish them well in the future."

"We would like to thank all our team and advisors who have worked tirelessly and diligently on this transaction," he added.

The deal has been through turbulent times in recent months.

Back in September, Fyffes agreed to revised terms of the merger in a bid to make the deal more attractive to shareholders.

While in August Fyffes shares dropped 6%, after Chiquita received an alternative takeover proposal.

The agreement would have created a firm that operated in more than 70 countries and employed some 32,000 people globally.

Chiquita-Fyffes was also to be listed on the New York Stock Exchange (NYSE).