Media center

Meitar Represented PrimeSence, 3D sensing technology developer company, in its acquisition by a multinational corporation.

Meitar represented NYSE-listed Covidien, a US medical device manufacture, in its acquisition of Given Imaging, a medical technology company that develops and manufactures the swallowable imaging capsules for endoscopy, for approximately $1 billion.

Meitar represented Conduit in its spin-off of ClientConnect, Conduit’s toolbar division, and the subsequent purchase of ClientConnect by Perion Network Ltd., a NASDAQ company, in an all stock transaction. Conduit’s shareholders and option holders received 81% of Perion shares in the transaction, which closed in January 2014.

Meitar successfully defended the board of directors of Partner Communications Ltd. in opposing a motion to certify a derivative action seeking NIS 653 million in damages and alleging negligence in the approval of dividend distributions. The motion to certify was denied in its entirety.

Our firm represented a consortium of purchasers from China and Hong Kong in the pending acquisition of a controlling interest in Clal Insurance Enterprises Holdings Ltd., a public company traded in the TASE, which is the parent company of the largest insurance group in Israel, Clal Insurance Company Ltd. The value of the transaction (including put/call options) is approximately US $700 million.

Meitar represented Bitan Wines food chain in its acquisition of Zim Marketing Ltd., the owner of the “Half-Off” food chain, to become the third largest retail chain in Israel.

Meitar successfully defended ASML, a Netherlands company, in a NIS 20 million subrogation action brought by Migdal Insurance Company. The action was dismissed in light of a foreign jurisdiction provision in the agreement between ASML and the insured (Tower Semiconductor).