Harel’s latest offer represents a 22% premium to the current Isracard share price.
The Battle to Gain Control of Israel’s Largest Credit Card Company isracard (TASE: ISCD) continues. This morning, the board of directors of Harel Insurance Investments and Financial Services Ltd. (TASE: HARL) approved the increase of its offer to buy 100% of Isracard from NIS 2.934 billion to NIS 3.304 billion.
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Insurance and finance company last week Menorah Mivtachim (TASE:MMHD) has submitted a new offer to buy a 32% controlling core of Isracard at a company valuation of NIS 3.5 billion.
The current share price of Isracard, managed by CEO Ran Oz, is NIS 13.64, so Harel’s latest offer represents a 22% premium to its current share price.
Published by Globes, Israel business news – en.globes.co.il – March 19, 2023.
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