European Commission approves Total Produce and Dole Food merger
There are no antitrust regulatory hurdles remaining for the creation of a new company that will combine Total Produce plc and Dole Food Co.
The European Commission said June 9 it has granted its approval for the deal. Meanwhile, U.S. authorities have not raised any objections to the planned merger. Under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976, the U.S. would have had to raise any objection by April 16, and none was put forward.
On Feb. 17, the boards of Total Produce plc, Dole Food Co. Inc. and affiliates of Castle & Cooke Inc., which owns a 55% interest in DFC Holdings LLC, the parent company of Dole Food Co., announced that they had entered into a binding transaction agreement to combine under a newly created Irish incorporated, U.S. listed company, Dole plc.
The transaction remains subject to approval by Total Produce shareholders, market conditions and other customary conditions, according to a news release.
More information about the transaction is available at www.totaldole.com.
