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Recent transaction and litigation


November / 2009

International Three Crown Petroleum

Meitar represented International Three Crown Petroleum and Israel Petroleum Company, private oil and gas exploration and exploitation companies, before the Supreme Court and the newly-established Economic Division of the Tel-Aviv District Court (in its first decision ever). Both courts accepted Meitar’s arguments and rejected the motion of Bontan Corporation (OTC: BNTNF) for a temporary injection aimed to prevent a transaction with an Israeli public shell company.

November / 2009

Representation of TEOCO in its acquisition of TTI Team Telecommunication for $58 million

TEOCO, a Delaware private company that provides software solutions to telecom operators acquired TTI, an Israeli public company traded on NASDAQ, through a reverse triangular merger effected under Israeli law.

November / 2009

Representation of Amdocs in its acquisition of French company Streamezzo SA for $41 million

Meitar represented Amdocs in its acquisition of French based company Streamezzo SA for $41 million. The transaction was accomplished by way of a purchase of shares from Streamezzo’s shareholders and applying a forced-sale mechanism (bring along).

November / 2009

Meitar attorneys block a hostile attempt to take over Sella Capital

Meitar’s litigation group obtained a seminal decision from the Tel-Aviv District Court on behalf of Sella Capital (TASE: SLARL), an Israeli real estate investment trust (REIT), blocking a hostile takeover attempt commenced in the form of a scheme of arrangement. The District Court ruled in favor of Sella, holding that a scheme of arrangement requires the consent of the company board of directors, and therefore can not be used for hostile takeovers.

November / 2009

Representation of Amdocs in its $104 million cash acquisition of UK-based MX Telecom

In March 2010, MX Telecom was acquired by Amdocs, an NYSE traded company which is a leading global provider of billing solutions. MX Telecom is a global aggregator providing connectivity and infrastructure, and facilitating payment and digital content delivery, to enable businesses to take advantage of mobile technology.

November / 2009

Representation of Emblaze in its sale of Formula Systems to Asseco for $140 million

Emblaze, is an LSE traded Israeli company that operates in the mobile technology market and that held a controlling stake in Formula Systems, an Israeli public company that controls a number of public companies traded on NASDAQ and the TASE that provide various IT solutions. Asseco is a Polish company traded on the Warsaw stock exchange that operates various IT solutions companies in Eastern Europe.

November / 2009

Sun Pharmaceuticals

Meitar’s litigation group successfully represented the India-based Sun Pharmaceuticals (NSE: SUNPHARMA; BSE: 524715) in its legal proceedings against Israel-based Taro Pharmaceutical Industries (PINK: TAROF). The Supreme Court accepted Sun’s argument that under Israel’s Companies Law Sun is exempt from commencing a special tender offer in order to gain control over Taro.