Key Developments: Dole Food Company Inc (DOLE.N)
10.85USD
22 May 2013
$-0.29 (-2.60%)
$11.14
$11.15
$11.23
$10.80
151,151
197,975
$15.16
$8.35
Latest Key Developments (Source: Significant Developments)
Dole Food Company Inc Announces Authorization Of Share Repurchase Program
Dole Food Company Inc announced that Board of Directors has approved a share repurchase program for up to $200 million of Dole`s outstanding common stock. The share repurchase authorization, which is effective immediately, permits Dole to effect share repurchases from time to time through open market repurchases (including through Rule 10b5-1 plans to allow longer periods of repurchase opportunity), block trades, privately negotiated transactions, tender offers, and/or other transactions. The timing, method, and amount of any shares repurchased will be determined based on Dole`s evaluation of market conditions, the trading price of Dole`s common stock and other factors. Full Article
Dole Food Company Inc Comments On Q2 2013 EBITDA Guidance
Dole Food Company Inc announced that it expects second quarter 2013 adjusted EBITDA to approximate half of first quarter Adjusted EBITDA (excluding the $34 million charge), with lower earnings from both fresh fruit and fresh vegetables businesses. According to I/B/E/S Estimates, analysts are expecting the Company to report EBITDA of $60 million for the second quarter of 2013. Full Article
Dole Food Company Inc Receives Approval From China To Sell Worldwide Packaged Foods And Asia Fresh Produce Business To ITOCHU Corporation
Dole Food Company Inc announced that ITOCHU Corporation (ITOCHU) and Dole received unconditional approval from the Chinese Ministry of Commerce to implement the sale of Dole's worldwide packaged foods and Asia fresh produce business to ITOCHU. Full Article
Dole Food Company Inc Issues FY 2013 Earnings Guidance-Conference Call
Dole Food Company Inc announced that for fiscal 2013, it expects Adjusted EBITDA for the new Dole, including 2013 planned cost savings in the $20 million range, will be in the $150 - $170 million range, with income from continuing operations, net of income taxes, in the $45 - $60 million range, assuming no major market changes. Full Article
Dole Food Company Inc CEO To Go To Itochu;CFO Also To Leave-Reuters
Reuters reported that Dole Food Company Inc which is selling two businesses to Japan's Itochu Corp said that its Chief Executive, David DeLorenzo, will leave to run those businesses at Itochu. David Murdock, Dole's chairman, will replace DeLorenzo as CEO. Dole said that Joseph Tesoriero, its Chief Financial Officer, and Sue Hagen, head of human resources, are also leaving the Company. Full Article
Dole Food Company Inc Announces Agreement to Sell Worldwide Packaged Foods and Asia Fresh Produce Businesses to Itochu Corporation
Dole Food Company Inc announced that it has signed a definitive agreement with Itochu Corporation for the sale of Dole's worldwide packaged foods and Asia fresh produce businesses for $1.685 billion in cash. This proposed transaction results from Dole’s 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, to pay deal-related expenses, and for restructuring and other corporate purposes. Dole Worldwide Packaged Foods produces canned pineapple, canned pineapple juice, fruit juice concentrate, fruit in plastic cups, jars and pouches, fruit parfaits, healthy snack foods and frozen fruit. Full Article
Itochu Corpo In Talks To Buy Dole Food Company Inc Businesses-Reuters
Reuters reported that Dole Food Company Inc is in advanced talks with Itochu Corp to sell its packaged foods and Asian fresh fruit and vegetable businesses to the Japanese trading house. Itochu could pay around $1.7 billion for the Dole businesses. Full Article
Dole Food Company Inc Completes Agreement Terminating 38 DBCP Lawsuits
Dole Food Company Inc announced the termination of 38 lawsuits that had been pending in the United States and Nicaragua, including two Nicaragua judgments totaling $907.5 million, completing an agreement that had been reached late last year. The cases had been brought by the ProvostUmphrey Law Firm on behalf of foreign plaintiffs claiming injuries from alleged exposure more than 30 years ago to the agricultural chemical DBCP. The completed agreement will not have a material effect on Dole's financial condition, results of operations or cash flows. Full Article
Dole Food Company Inc Announces Dismissal Of Colombian Plaintiffs Lawsuit
Dole Food Company Inc announced that the Los Angeles County Superior Court has dismissed with prejudice the lawsuit brought by Colombian plaintiffs, claiming damages against Dole from alleged payments to Colombian paramilitary organizations. The lawsuit, Emperatriz Marina Mendoza Gomez, et al. v. Dole Food Company, et.al., was originally filed as Juana Perez 1A v. Dole Food Company, Inc. in April 2009. Full Article
Dole Food Co Inc Acquires Healthy Snack Company, Mrs. May’s Naturals
Dole Food Co Inc announced the acquisition of Mrs. May’s Naturals, a company committed to providing consumers with wholesome snacks for a healthier lifestyle. The acquisition, which will become part of the Dole Packaged Foods division. Terms of acquisition were not disclosed. Full Article
Dole CEO to go to Itochu with business units
- Dole Food Co Inc , which is selling two businesses to Japan's Itochu Corp , said on Thursday that its chief executive, David DeLorenzo, will leave to run those businesses at Itochu.
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