Please ensure Javascript is enabled for purposes of website accessibility

With Competing Bids Lacking, Dole Food Will Go Private

By Rich Smith – Sep 11, 2013 at 5:04PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

CEO's bid of $13.50 per share has not been beat.

Thirty days after Dole Food (NYSE: DOLE) Chairman and CEO David Murdock upped his offer to take the company private for $13.50 per share, the 30-day "go-shop" period has expired -- and Dole has received no better bids from any other interested buyers.

As a result, and assuming shareholders approve the transaction and regulators do not object to it, Dole will be going with its CEO's offer and going private sometime in Q4 2013. Including the value of Dole's debt, the deal is valued at $1.6 billion.

So far, the Federal Trade Commission has already given its assent. A few regulators in foreign countries have yet to give theirs.

Fool contributor Rich Smith and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
326%
 
S&P 500 Returns
102%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 10/03/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.