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.
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