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The Ropes Recap: Mergers & Acquisitions Law News - Third Quarter 2015

2015-12-19 01:29:22| Agriculture - Topix.net

Delaware Court Awards $148 Million in Damages, as Fiduciaries' Bad Faith Conduct Prevented Stockholders from Obtaining a "Fairer Price" in Take-Private Transaction In a recent post-trial opinion, Vice Chancellor Laster of the Delaware Court of Chancery held David Murdock, the Chief Executive Officer and 40% stockholder of Dole Food Company, Inc. , and Michael Carter, a Dole director who also served as Dole's President, Chief Operating Officer, and General Counsel, liable for $148 million in damages for their conduct relating to the November 2013 transaction in which Murdock took Dole private for $13.50 per share.

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