Suits Buck Dole CEO's $1.5B Offer, Citing Board Conflicts

Law360, New York (June 19, 2013, 5:41 PM EDT) -- Dole Food Co. Inc. shareholders sued the fruit and vegetable purveyor in a pair of California state court lawsuits Friday to stop CEO David Murdock's $1.5 billion go-private deal, saying the price is "egregiously low" and its board is conflicted.

Murdock announced the deal June 11, but said he'd drop the offer unless it's approved by a special committee of Dole’s independent directors and a majority of the shareholders who hold the 60 percent of the company he doesn't already own, in an apparent bid to...
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