Dive Brief:

• Ireland's High Court has given its backing to the newest version of the proposed merger between banana growing/shipping giants Fyffes and Chiquita.
• The court approved a revised merger plan in which Chiquita shareholders would get a larger stake in the combined company than originally planned. Shareholders in Fyffes, based in Ireland, will get just 40.4% of the new company, down from 49.3%. 
• The companies altered their original proposal after shareholder advocates urged Chiquita shareholders to reject the first plan. 

Dive Insight:

The Chiquita-Fyffes deal may be gaining a bit of momentum. The Irish court ruling comes just days after the European Union gave its blessing to the deal.

But courts and regulators won't have the final say. Chiquita shareholders must still vote. And as the recent lawsuit filed by a public employee union's pension plan would suggest, many shareholders aren't yet convinced that Chiquita has their best interests at heart.