Business in brief

Dole chairman and his family offer to buy company

Updated: 2013-06-12T01:38:23Z

Dole buyout offer

Dole Food chairman and CEO David Murdock and his family are offering to buy the business with a bid that values the company at $1.07 billion.

Murdock and other family members are making an unsolicited offer of $12 per share for the shares of the company they don’t already own, an 18 percent premium to Dole’s closing price Monday.

Murdock has a 39.5 percent stake in Dole, which has about 89.5 million outstanding shares, according to FactSet.

CBOE fined

Federal regulators fined the Chicago Board Options Exchange $6 million, saying it should have done more to police illegal short sales at the trading venue.

The settlement is the first assessed by the Securities and Exchange Commission for a breakdown in regulation, according to a statement. It comes four days after an administrative law judge ruled that CBOE member OptionsXpress, a unit of U.S. brokerage Charles Schwab, helped facilitate sham transactions that violated U.S. securities laws known as Regulation SHO.

Bias suit filed

Dollar General, a discount retailer, and BMW Manufacturing, a unit of the German automaker, were sued by the U.S. government over the allegedly discriminatory use of criminal background checks in hiring.

The companies used those checks in a manner that was biased against black workers and job applicants, according to complaints filed by the Equal Employment Opportunity Commission in Chicago and Spartanburg, S.C.

| Star news services

Deal Saver Subscribe today!


The Kansas City Star is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

The Kansas City Star uses Facebook's commenting system. You need to log in with a Facebook account in order to comment. If you have questions about commenting with your Facebook account, click here