The CEO of Westlake Village-based Dole Food David Murdock could be heading to trial after a Delaware Chancery Court judge refused to throw out a case against the executive’s 2013 deal to take the company private.
Dole Food Co. CEO and Chairman David Murdock has completed a buyout of the company, a deal that takes the Westlake Village-based produce giant private and values it at $1.6 billion.
The merger was approved by shareholders on Oct. 31, the company said. Dole shares will cease trading on the New York Stock Exchange at the close of business on Nov. 1.
At age 90, David Murdock has been alive for most of the time that 155-year-old Dole Food Co. has been in existence.
Westlake Village-based Dole Food Co.’s stock soared more than 21 percent Tuesday morning as CEO David Murdock made a cash offer of $12 a share for the 60 percent of the company he doesn’t own in a deal valued at $1.1 billion. Dole is one of the biggest producers and importers of fresh fruit and Read More →
Dole Food Co. reported a first-quarter loss of $65.6 million, largely due to its packaged foods operations, which have since been discontinued and sold to a Japanese firm for $1.7 billion in cash. The Westlake Village-based produce giant sold its global packaged foods and Asia fresh produce businesses to Itochu Corp. in a deal that Read More →
Westlake Village-based Dole Food Co. said it will appeal to Europe’s highest court after a lower-court decision that upholds a $59.8 million fine levied by the European Union over allegations that the fresh fruit company colluded with German banana importers to fix prices. The decision, issued by the E.U.’s General Court, upheld the fine of Read More →
A much-smaller Dole Food Co. reported a fourth-quarter loss and lower profits in 2012. The Westlake Village-based produce giant sold its worldwide packaged foods and Asian fresh foods business to Itochu Corp. out of Japan for $1.7 billion in cash earlier this year. With its packaged-foods business sold, the new Dole has a much smaller Read More →