Dole Food Announces CEO David H. Murdock's Offer to Acquire All Remaining Shares for $12.00/Share in Cash
Dole Food Company, Inc. (NYSE: DOLE) today announced that its Board of
Directors has received an unsolicited proposal from David H. Murdock,
the Company's Chairman of the Board and CEO, to acquire all of the
outstanding shares of common stock of Dole Food Company, Inc. not
already owned by Mr. Murdock or his family for $12.00 per share in cash.
The Board of Directors will be meeting over the next several days to
establish a Special Committee of independent directors to consider Mr.
Murdock's proposal and its implications, in the context of assessing the
appropriate course of action that is in the best interests of the
Company and its stockholders. The Company cautions its stockholders, and
others considering trading in the Company's securities, as follows: the