ISS backs Murdock's $1.2B offer to take Dole Food private

Proxy Advisory firm Institutional Shareholder Services (ISS) has recommended that Dole Food's (DOLE) investors support the company's $1.2B acquisition by Chairman and CEO David Murdock at a special meeting on October 31.

ISS cited the "meaningful premium offered to Dole's unaffiliated shareholders" as a reason for its recommendation.

Following Murdock's bid for the fruit-and-vegetable producer in August, Dole didn't receive any other offers during the "go-shop" period.

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