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Murdock clinches $1.6B Dole buyout

Aug 12, 2013 - The Deal Pipeline
Mergers and Acquisitions

David H. Murdock looks to have the whole pineapple to himself again, with an offer for the 60% of Dole Food Co. shares he does not own.

Dole said Monday it has agreed to be acquired by its chairman and chief executive in a deal valuing the company at $1.6 billion.

The enterprise value includes a $13.50 per share in cash offer, which is $1.50 above Murdock's initial $12 per share offer made on June 10, initially valuing Dole at about $1.5 billion. The agreed-to offer is also a 32% pre...