Dole Food shareholders approve merger agreement in which CEO and his affiliates will acquire 60.5% of company's outstanding common stock for US$13.50 in cash; merger expected to close around Nov. 1
WESTLAKE VILLAGE, California
October 31, 2013
– Dole Food Company, Inc. (DOLE) today announced that its stockholders approved, at a special stockholder meeting held today, the previously announced merger agreement under which David H. Murdock, Dole’s Chairman and Chief Executive Officer, will acquire the approximately 60.5% of the Company’s outstanding common stock that he and his affiliates do not already own for $13.50 per share in cash.
Votes “FOR” the merger totaled approximately 63.8 million shares, or 70.6% of Dole’s outstanding shares of common stock. Approximately 27.5 million shares, or 50.9% of the shares held by stockholders other than Mr. Murdock and his affiliates and Dole’s directors and executive officers voted “FOR” the merger.
The merger is expected to close on or about November 1, 2013. Letters of transmittal allowing Company stockholders of record to deliver their shares to the paying agent in exchange for payment of the merger consideration are expected to be distributed shortly after the closing.
About Dole Food Company, Inc.
Dole Food Company, Inc., with 2012 revenues from continuing operations of $4.2 billion, is one of the world’s largest producers and marketers of high-quality fresh fruit and fresh vegetables. Dole is an industry leader in many of the products it sells, as well as in nutrition education and research. For more information, please visit www.dole.com or http://investors.dole.com.
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