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Dole Food Company, Inc Common S Message Board

  • schneckden schneckden Mar 13, 2013 3:04 PM Flag

    DOLE SHORT INTEREST 8.5 million shares, up 3.5mn shares since 12/31/12

    I wonder how much of the shares short are from capital structure arbitrage hedge funds who are shorting the stock as a hedge against DOLE debt. if they are hedged, they will need to cover their shorts when DOLE tenders for its bonds. DOLE said on the conference call that they will tender the evening the deal closes. ITOCHU wants to close the deal on April 1st which makes sense given that Japanese companies fiscal year end is 3/31/13. They will be starting the new fiscal year consolidating DOLE asia in full. It should be interesting to see DOLE's price action leading up to april 1st.