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Acquisition of Dole Food Company, Inc. by Company Chairman and CEO, David H. Murdock, May Not Be in the Best Interests of Dole



 Acquisition of Dole Food Company, Inc. by Company Chairman and CEO, David H.
 Murdock, May Not Be in the Best Interests of Dole Food Company Shareholders

PR Newswire

SAN DIEGO and WEST LAKE VILLAGE, Calif., Aug. 12, 2013

SAN DIEGO and  WEST LAKE VILLAGE, Calif., Aug. 12, 2013 /PRNewswire/
--  Shareholder rights attorneys at Robbins Arroyo LLP are investigating the
acquisition of Dole Food Company, Inc. (NYSE: DOLE) ("Dole Food") by company
Chairman and CEO, David H. Murdock.  On August 12, 2013, Dole Food and Mr.
Murdock announced the signing of a definitive merger agreement under which,
Mr. Murdock, through his affiliates, will acquire all of the outstanding
shares of common stock of the company not already owned by him for $13.50 per
share in cash.

(Logo:  http://photos.prnewswire.com/prnh/20130103/MM36754LOGO)

Is the Merger Best for Dole Food and Its Shareholders?

Robbins Arroyo LLP's investigation focuses on whether the board of directors
at Dole Food is undertaking a fair process to obtain maximum value and
adequately compensate its shareholders in the merger.  The $13.50 merger
consideration represents a premium of only 32.4% based on Dole Food's closing
price on June 10, 2013, the last trading day prior to the announcement of Mr.
Murdock's initial offer of $12.00 per share.  The 32.4% premium is
substantially below the average premium of 48.62% for comparable transactions
over the past three years.  In addition, Dole Food has traded as high as
$15.19 on September 12, 2012, well above the offer price.

In addition, on July 25, 2013, the company announced its financial results
which exceeded analyst earnings per share and net income expectations in the
second quarter 2013, and exceeded sales expectations in the first and second
quarter of 2013.  In particular, Dole Food released its financial results for
the second quarter 2013, reflecting a 10% increase in revenue compared to the
same quarter 2012 and a 12% increase in fresh fruit revenue for the same
quarter 2012. 

Given these facts, Robbins Arroyo is examining whether Mr. Murdock's offer is
inadequate and in his interests rather than in the best interests of the
shareholders.

Dole Food shareholders have the option to file a class action lawsuit to
secure the best possible price for shareholders and the disclosure of material
information so shareholders can vote on the transaction in an informed manner.
 Dole Food shareholders interested in information about their rights and
potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003,
ddonahue@robbinsarroyo.com, or via the shareholder information form on the
firm's website.

Robbins Arroyo LLP is a nationally recognized leader in securities litigation
and shareholder rights law.  The firm represents individual and institutional
investors in shareholder derivative and securities class action lawsuits, and
has helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested.  For more information, please
go to http://www.robbinsarroyo.com.

Press release link:
http://www.robbinsarroyo.com/shareholders-rights-blog/dole-food-company-inc/

Attorney Advertising. Past results do not guarantee a similar outcome.  

Contact:
Darnell R. Donahue
Robbins Arroyo LLP
ddonahue@robbinsarroyo.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com

SOURCE Robbins Arroyo LLP

Website: http://www.robbinsarroyo.com
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