<p>*Murdock offers $12 per share, a premium of 18 percent over Dole’s Monday close of $10.19.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">*Murdock currently controls 40% of the company’s stock.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">*Following the offer, shares rise well above $12.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">David Murdock has announced an offer to buyout of all outstanding shares for 12 dollars per share in cash, causing shares to spike more than 21 percent to $12.40.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">The jump in share price is leading some investors to expect a higher bid for the company that has reported losses for the past three quarters, according to Reuters.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Murdock, the company’s biggest shareholder with a 40% stake, returned to the company as CEO in the wake of Dole’s $1.7 billion sale of two businesses to Itochu Corp.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Dole’s Board of Directors will be meeting over the next several days to establish a Special Committee of independent directors to consider the proposal and its implications, to determine the appropriate course of action in the best interests of the company and its stockholders, according to a release.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Stay tuned to AndNowUKnow for the latest updates on Dole's ownership.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href="http://www.reuters.com/article/2013/06/11/us-dolefoods-offer-idUSBRE95A0D520130611" target="_new">Dole Report </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">
