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

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