Dole Food (DOLE) announced Tuesday morning that its Board of Directors has received an unsolicited proposal from David H. Murdock, the Company's Chairman and CEO, to acquire all of the outstanding shares of common stock of Dole Food not already owned by Mr. Murdock or his family, for $12.00 per share in cash.
Dole Food gapped open sharply higher Tuesday and is now up 2.03 at $12.23, with volume at over a 5-month high. The stock has jumped to a 6-month high and has re-crossed its 50 and 200-day moving averages.
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