Dole Valued At $1.6B In CEO's Sweetened Go-Private Bid

Law360, New York (August 12, 2013, 2:20 PM EDT) -- Dole Food Co. on Monday signed off on a sweetened go-private proposal from its top executive that values the fruit-and-vegetable mainstay at $1.6 billion including debt, an increase over an initial offer that drew criticism from shareholders who felt shortchanged by its payout.

Under the revised terms, Chairman and CEO David Murdock and his affiliates will put up $13.50 in cash for the Dole shares they do not already own. The deal bests the 90-year-old's original $12.50-per-share proposal, and represents a 32 percent premium over the...
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