Dole Deal Moves Forward as Murdock's Offer Remains Unchallenged


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Wed. September 11th, 2013 - by Sarah Hoxie

<p> Dole Food Company is moving forward with a merger agreement made in June for CEO David H. Murdock to acquire all of the outstanding shares of common stock.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>The company recently announced the expiration of the “go-shop” period provided for in its agreement with Murdock. Dole did not receive any alternative transaction proposals from third parties during the 30 calendar-day go-shop period between August 11, 2013 and September 10, 2013, according to a press release.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">The transaction is expected to close during the fourth quarter of 2013. The Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with the merger as of September 3, 2013. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>Dole will become a privately held company owned by Mr. Murdock, and its stock will no longer be listed for trading on the New York Stock Exchange, following completion of the transaction.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://investors.dole.com/phoenix.zhtml?c=231558&amp;p=irol-irhome" target="_new"> Dole <hr class="legacyRuler"><hr class="invisible minimal-padding"></a></p>