Special to The Journal Record
HUTCHINSON _ A revised preli-
minary proposal for the purchase of an
equity interested in Doskocil Companies
Inc. has been received from Chiquita
Brands International Inc., Hutchinson-
based Doskocil said Thursday.
Chiquita is now proposing to acquire a
substantial majority of Doskocil. A
proposal received from Chiquita in April
was for a minority equity interest.
"The terms of the proposal remain
preliminary in nature and are subject to
substantive negotiations among the
parties," Doskocil said in a statement
Doskocil and its subsidiaries, includ-
ing Wilson Foods Corp. of Oklahoma
City, filed for protection under Chapter
11 of the Bankruptcy Code on March 5,
1990. Doskocil acquired Wilson in a
hostile takeover in October 1988.
The proposal by Chiquita, a subsidi-
ary of American Financial Corp. of
Cincinnati, is subject to certain condi-
tions, including the consummation of a
mutually acceptable plan of reorganiza-
tion, Doskocil said.
The Doskocil board of directors has
not met to discuss the proposal and
would only do so after the company and
its advisors have completed a thorough
analysis of the proposal, the company
said in the statement. …