Altshuler Shaham bids to merge with Halman Aldubi

Gilad Altshuler

Altshuler Shaham is offering a premium of 116.9% on the share price of Halman Aldubi in a merger that would make it Israel's largest investment house.

Altshuler Shaham could be set to become Israel's largest investment house in terms of assets under management. Altshuler Shaham Provident Funds and Pension Ltd. (TASE: ASPF) has submitted to the board of directors of Halman Aldubi Investment House Ltd. (TASE: HAIN) an offer to fully purchase all the company's shares and merge with it.

Altshuler Shaham's offer for Halman Aldubi, which manages assets worth NIS 70.3 billion (as of the end of May 2020), reflects a share price of NIS 6.634, a premium of 116.9% on the share's closing price on Tuesday night.

Altshuler Shaham believes that Halman Aldubi is a good company with quality assets and that the merger would best serve both companies.

Published by Globes, Israel business news - en.globes.co.il - on July 22, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Gilad Altshuler
Gilad Altshuler
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