Dole Food Co. lost its bid for review from the Delaware Supreme Court after losing its motion for summary judgment in the Chancery Court.
The case stems from the November 2013 take-private merger of Dole by David H. Murdock, the company’s chairman and chief executive officer, according to court documents. Shortly after that cash transaction during which Murdock paid $13.50 per share for all of Dole’s outstanding common stock, other shareholders filed a petition for appraisal of stock.
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