At the Hellman-Aldubi investment house, they are trying to calm the storm that arose after the purchase offer they received from Altshuler Shaham. The investment house announced that it had received another offer to purchase, this time from a foreign financial entity, offering to purchase 51% -100% at a company value of NIS 304-230 million. It will be recalled that Altshuler Shaham Gamel last week submitted an official and public offer to purchase the investment house at a value of NIS 230 million – more than double its value on the stock exchange.
Towards the end of 2019 it was announced that the Phoenix had also offered Hellman-Aldubi to purchase its provident fund, and even then it was announced shortly afterwards that at the same time an offer was received from a British investment fund – Pollen street capital – to purchase the investment house. In the end, none of the proposals matured.
At the same time, as published in Calcalist in Hellman-Aldubi, they decided to set up an independent committee, whose members are the independent directors and directors of the investment house, which will examine the proposal from the foreign entity and Altshuler Shaham, and recommend whether to proceed with negotiations.
Altshuler Shaham’s offer, submitted without coordination with Hellman-Aldubi during a move reminiscent of a hostile takeover, has caused a stir among some shareholders. It was reported yesterday in Calcalist that investors Eran Meital and Hanan Asaig, who hold more than 5% of the shares, demand that the deal be promoted, given the high premium it expresses, and even threaten legal action if it is not put to a vote at the shareholders’ meeting.