The valves manufacturer hoped to close the acquisition by May 15.
Valves and fittings manufacturer Ham-Let (Israel-Canada) Ltd. (TASE: HAML) has extended negotiations to acquire Dutch valves and manifolds manufacturer Astava BV with the objective of closing a deal on the basis of the memorandum of understanding (MOU) between the companies. signed in March. The deadline in the MOU was May 15, which passed with no deal reached.
Ham-Let did not disclose the price tag or other details about the proposed acquisition.
Nochi Dankner-controlled IDB Holding Corp. Ltd. (TASE:IDBH) unit Discount Investment Corporation (TASE: DISI) owns 60.2% of Ham-Let. Ham-Let's share price rose 0.6% in morning trading today to NIS 20.50, giving a market cap of NIS 281 million.
Published by Globes [online], Israel business news - www.globes-online.com - on June 8, 2010
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