Dole Deal Moves Forward as Murdock's Offer Remains Unchallenged
Dole Food Company is moving forward with a merger agreement made in June for CEO David H. Murdock to acquire all of the outstanding shares of common stock.
The company recently announced the expiration of the “go-shop” period provided for in its agreement with Murdock. Dole did not receive any alternative transaction proposals from third parties during the 30 calendar-day go-shop period between August 11, 2013 and September 10, 2013, according to a press release.
The transaction is expected to close during the fourth quarter of 2013. The Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with the merger as of September 3, 2013.
Dole will become a privately held company owned by Mr. Murdock, and its stock will no longer be listed for trading on the New York Stock Exchange, following completion of the transaction.
Dole
