With Competing Bids Lacking, Dole Food Will Go Private
Thirty days after Dole Food Chairman and CEO David Murdock upped his offer to take the company private for $13.50 per share, the 30-day "go-shop" period has expired -- and Dole has received no better bids from any other interested buyers.
As a result, and assuming shareholders approve the transaction and regulators do not object to it, Dole will be going with its CEO's offer and going private sometime in Q4 2013. Including the value of Dole's debt, the deal is valued at $1.6 billion.
So far, the Federal Trade Commission has already given its assent. A few regulators in foreign countries have yet to give theirs.
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