Usman Shah
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Going Once, Going Twice, Dole is Sold!

David H. Murdock Jr. the 90 year old self made billionaire and chief executive of Dole Food Company Inc (NYSE: DOLE) has agreed to buy and take full control of the company for $1.6 billion. He already own 40% of the company's share and is paying $13.50 a share for the rest of the 60%, $1.50 higher then his original offer of $12 a share. The board has unanimously agreed to this decision, however they still have 30 days period where if a better offer comes this deal would be voided. This takeover should be completed by the end of 2013. I am looking forward to seeing what direction would Murdock take the company. FYI I love the pineapples the the company produces.