Dole Food Company, an American food company, has announced the closure of acquisition of the company by its chairman and CEO David H. Murdock in a deal valuing the firm at over $1.6bn, including debt.
The closure was executed after the going-private merger agreement was approved by Dole's stakeholders on 31 October 2013.
Commenting on the developments, Murdock stated that he is pleased to have concluded the acquisition of Dole and wishes to thank our many loyal stockholders.
"The $13.50 price per share is considerably higher than Dole's historical stock trading price average. I plan to have Dole support my strong personal commitment to promoting a lifestyle and diet which includes significant emphasis on fruits and vegetables and proper nutrition as a basis for improved health and longevity," added Murdock.
"We will continue to support research efforts to study the impact of nutrition on health and longevity at universities and other non-profit institutions, and to write books and publications in order to broaden our collective knowledge base on the value and benefits from eating fruits and vegetables."
