Dole Food Company has announced in a statement that it has designated a special committee of its Board of Directors to act on behalf of the company in respect of the acquisition proposal made by David H. Murdock on 10 June 2013.
The special committee consists of the four members of the Board of Directors who are independent, and will be chaired by Andrew J. Conrad.
The special committee has engaged Lazard as its financial advisor and Sullivan & Cromwell as legal counsel.
Dole said that no assurance can be given that Murdock’s proposal, or any other transaction, will be consummated.
The group also indicated that it does not intend to disclose developments regarding the matters unless and until its Board of Directors determines there is a need to update the market.
Dole Food Company is one of the world’s largest producers and marketers of high-quality fresh fruit and fresh vegetables with revenues from continuing operations of US$4.2bn in 2012.