NEW YORK: Chiquita Brands International, owner of the namesake banana label, received an unsolicited $611 million takeover proposal that envisages the company scrapping its pending merger with Irish competitor Fyffes.

Brazilian juice maker Cutrale Group and financial conglomerate Safra Group said Monday in a joint statement they are offering $13 a share for Charlotte, North Carolina-based Chiquita.

The proposal is 29 percent more than Chiquita's closing share price on Aug. 8. and isn't subject to financing conditions, Cutrale and Safra said.

The proposed bid jeopardizes the Fyffes merger that would lower Chiquita's tax bill by moving its headquarters from the US to Ireland. Cutrale, a closely held company controlled by Brazil's Jose Luis Cutrale, is partnering with banks controlled by Joseph Safra, Brazil's second-richest man, to challenge the Fyffes tie-up.

"To have a new bid at such a high premium come out of left field is quite surprising," David Holohan, an analyst at Merrion Capital in Dublin, said.

"The market clearly is attributing value to the new bid as opposed to the old tie-up between Fyffes and Chiquita."

Cutrale controls more than one-third of the $5 billion orange-juice market, and also has global operations in apples, peaches, lemons and soybeans, according to the statement.

"This platform offers Chiquita extensive experience in all aspects of the fruit and juice value chain," Cutrale and Safra said in the statement.

Safra has more than $200 billion of assets under management and operates banks in North America, South America, Europe, the Middle East and Asia, according to the statement.

Joseph Safra, 75, has a net worth of $13.2 billion, according to the Bloomberg Billionaires Index.

The majority of his fortune comes from his sole ownership of a banking empire whose flagship is Sao Paulo-based Banco Safra. Most of the rest comes from a wealth management company built around his $2.1 billion acquisition of Switzerland's Bank Sarasin.

"If we are able to proceed on a timely basis with due diligence and discussions, we will be in a position to close the transaction before the end of the year, within the same timeframe you have indicated for the Fyffes transaction," Cutrale and Safra said in a letter to Chiquita's management, a copy of which was included in the statement.

Brian Bell, an external spokesman for Fyffes, declined to comment.

Ed Lloyd, a Chiquita spokesman, didn't immediately respond to a call and e-mail seeking comment.

The Chiquita-Fyffes deal, which was announced in March, would bring together two of the world's oldest fruit importers to create the biggest banana company, with operations spanning the Americas, Europe and Asia.