Fyffes and Chiquita are set to merge and become the world's largest banana company, which will be based in Ireland.
The agreement between both boards of directors will create a firm that operates in more than 70 countries and employs around 32,000 people globally.
Chiquita-Fyffes will be listed on the New York Stock Exchange and be domiciled in Dublin.
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Newstalk's Business Editor Ian Guider says the reasons for the move were outlined in a statement this morning: