Approximately 11.17 million shares were tendered, including 1.07 million controlled by Bill Gates' personal investment firm, Cascade Investment, giving Murdock a total of more than 15 million shares. Castle & Cooke's holdings include the Hawaiian island of Lanai where Gates was married six years ago.
It is expected that the merger will be completed in late August or early September, 2000. Castle & Cooke's stock closed Monday at $19, off 25 cents from Friday's close. The stock reached a 52-week high of $19.938 on July 10. It's 52-week low came in early February, when shares traded at $11.75.
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