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The Tel Aviv District Court dismisses class actions involving appraisal claims against Nisko Industries Inc. and Nisko Holdings Inc., ruling that a tender offer was fair.
The Tel Aviv District Court (Economic Department) dismissed class actions involving appraisal claims against Nisko Industries Inc. and Nisko Holdings Inc., with respect to an acquisition of the shares of the minority shareholders as part of a tender offer.
In a thorough opinion, following an analysis of intricate economic issues, the Court held that the expert opinion submitted on behalf of the plaintiff was unreliable, and adopted the companies’ position in full. Accordingly, the Court further held that the consideration that was paid to the minority shareholders reflected the fair value of their shares. The Court based its holding, inter alia, on the market price of the shares prior to the tender offer and on the approval of institutional investors.
The companies were represented by Giora Erdinast, Hadas Bekel and Yuval Naim.
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