date:Aug 13, 2013
The new offer of $13.50 represents a 32 percent premium to Dole's stock price before Murdock made his initial offer of $12 per share in June.
Dole shares rose 5 percent to $13.45 in heavy midday trading on Monday. They have traded above the $12 level since Murdock, who holds a 40 percent stake in the company, made his first bid.
We see this raised offer as an attractive transaction that is highly likely to proceed, with a 75 percent chance it goes through at this price level, Janney Capital Ma