Dole Food Company, Inc. today announced that Institutional Shareholder Services (“ISS”), a leading proxy advisory firm, issued its report recommending that Dole shareholders support its previously announced merger agreement with David H. Murdock, Dole’s Chairman and Chief Executive Officer.
In its report dated October 16, 2013, ISS gave its recommendation to "[V]ote FOR the proposed transaction in light of the meaningful premium offered to Dole's unaffiliated shareholders.
The Special Meeting of Stockholders to approve the merger will be held on October 31, 2013. Dole expects to close the transaction later that day or the next day assuming receipt of the requisite shareholder vote. No alternative transaction proposals from third parties have been received to date. As disclosed in Dole's definitive proxy statement, Mr. Murdock has a binding financing commitment for the transactions contemplated by the merger agreement.
Dole's Board of Directors and the Special Committee strongly encourage all shareholders of record as of September 27, 2013 to vote their shares FOR the merger transaction promptly to be sure their shares are represented at the Special Meeting.