David H. Murdock, Dole’s chairman and CEO, has completed his acquisition of Dole Food Co. Inc.
The $13.50-per-share purchase price represents a total valuation of Dole at more than $1.6 billion, including net debt, fees and expenses. The going-private merger agreement was approved on Oct. 31 during a special meeting of the Dole stockholders. Dole’s shares of common stock ceased to be traded on the New York Stock Exchange at the close of business Nov. 1.
“I am pleased to have concluded the acquisition of Dole and wish to thank our many loyal stockholders. Our stockholders certainly benefited from a very robust special committee process and the extraordinarily high valuation for the company. The $13.50-price-per-share is considerably higher than Dole’s historical stock trading price average,” said Murdock. “I plan to have Dole support my strong personal commitment to promoting a lifestyle and diet, which includes significant emphasis on fruits and vegetables and proper nutrition as a basis for improved health and longevity. We will continue to support research efforts to study the impact of nutrition on health and longevity at universities and other nonprofit institutions, and to write books and publications in order to broaden our collective knowledge base on the value and benefits from eating fruits and vegetables.”
