Business Services Industry
Dole Food's Chairman Takes Company Private for $1.44 Billion.
Knight Ridder/Tribune Business News, March, 2003
By Evan Pondel, Daily News, Los Angeles Knight Ridder/Tribune Business News
Mar. 27--WESTLAKE VILLAGE, Calif.--Dole Food Co. Inc. shareholders on Wednesday overwhelmingly approved chairman and chief executive officer David H. Murdock's approximately $1.44 billion buyout of the world's biggest fruits and vegetables producer.
The deal taking the company private works out to $33.50 cents a share for the 76 percent of Dole stock that Murdock did not already own.
The outcome of the vote was announced at a shareholder meeting at Dole's headquarters in Westlake Village. Holders of 77 percent of the outstanding shares voted in favor of Murdock's buyout.
Dole's shares closed Wednesday at $33.44, up 5 cents.
The deal is...
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