Dole Committee Rejects CEO’s Bid
- Share via
A special committee organized by the board of Dole Food Co. rejected a bid from Chairman and Chief Executive David H. Murdock to take the company private, saying it was too low. However, it agreed to extend negotiations with the 79-year-old billionaire.
In late September, Murdock offered to buy the 76% of the Westlake Village-based company he doesn’t already own for $29.50 a share, or $1.25 billion, plus the assumption of about $1 billion in company debt.
Investors and analysts balked at the offer.
Neither Murdock nor Dole committee members could be reached for comment.
Dole stock rose 14 cents to close at $28.17 on the NYSE. The announcement was made after markets closed.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
