Jacobs protested the C&C;, Flexi-Van merger.

In a filing with the SEC, Minneapolis investor Irwin L. Jacobs, who heads a group holding a 12% stake in Honolulu-based Castle & Cooke Inc., claimed that the merger terms were designed "to preclude competitive bidding" for the company. Jacobs said his group "might be willing to offer a transaction substantially more favorable" to C&C; shareholders. In a letter to the company's directors requesting a response by Monday, he threatened "to pursue all appropriate remedies" if the merger goes forward.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World