Dole (DOLE) Pops Higher on $1.7B Packaged Food/Asia Produce Asset Sale
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Dole (DOLE) to Sell Packaged Foods, Asia Produce Business in $1.685B Deal
September 17, 2012 8:09 PM EDTDole Food Company, Inc. (NYSE: DOLE) has signed a definitive agreement with ITOCHU Corporation for the sale of Doles worldwide packaged foods and Asia fresh produce businesses for $1.685 billion in cash. This proposed transaction results from Doles previously announced strategic business review process, and is subject to Dole stockholder approval and customary regulatory approvals in multiple countries. Cash proceeds from the transaction will be used by Dole for debt reduction,... More
