Dole CEO Joins Take-Private Trend With $1.5B Buyout Bid

Law360, New York (June 11, 2013, 1:21 PM EDT) -- David Murdock on Tuesday became the latest chief executive to try to take his company private, lobbing a $1.5 billion buyout offer for California-based fruit and vegetable producer Dole Food Co. Inc.

Murdock, who already owns about 40 percent of Dole, wants to buy the rest of the company for $12 per share. That’s an equity value of about $1.07 billion, though debt and “other obligations” push the enterprise value of the deal to $1.5 billion.

The 90-year-old CEO and chairman said he has a “highly...
To view the full article, register now.