Dole Food going private
Dole Food going private
Dole Food Co. Inc. announced the expiration of the “go-shop” period, during which it did not receive any alternative proposals from third parties, and will move forward with its previously announced merger agreement with David H. Murdock, Dole’s chairman and chief executive officer.
Following completion of the transaction, Dole will become a privately held company owned by Murdock, and its stock will no longer be listed for trading on the New York Stock Exchange.
The transaction is expected to close during the fourth quarter of 2013, subject to approval by a majority of the outstanding shares of common stock owned by stockholders other than Murdock, customary regulatory approvals in certain countries and other customary closing conditions as specified in the merger agreement.
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 Sept. 3.