News Summary: Dole Food gets buyout offer from CEO

News Summary: Dole Food gets buyout offer from CEO, family valuing company at more than $1B

Associated Press

NEW YORK (AP) -- CEO BID: Dole Food Co. Chairman and CEO David Murdock and his family are offering to buy the business with a bid that values the entire company at more than $1 billion. Murdock and other family members are offering $12 per share for the stock they don't already own. Murdock has about a 39.5 percent stake in Dole, according to FactSet.

FRESH PRODUCE: The fresh fruit and vegetable company has gone through major changes recently. It sold its packaged foods and Asia fresh business for $1.69 billion in a deal that closed in April. That allowed Dole to become solely an international commodity produce company.

NEXT STEP: Dole plans to create a special committee to assess the bid. It said that it is only in the beginning stages of evaluating the offer and that the board has made no decisions about the proposal.

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