Dive Summary:
- In a deal valuing the company at close to $1.1 billion, Dole Food CEO David H. Murdock on Tuesday made an unsolicited offer to buy the company for $12 a share, 18% above Monday's closing share price.
- Murdock already owns 40% of the company, and if his bid is successful, he would also take on the company's debt obligations.
- Murdock, who is being advised by Deutsche Bank, also took the company private in 2003, and he hopes to have an agreement secured by the end of July.
From the article:
The chief executive of Dole Food, David H. Murdock, made an unsolicited offer on Tuesday to buy the company in a deal that values Dole at almost $1.1 billion. ...