Meitar represented Retalix a leading global provider of innovative retail software and services in its acquisition by NCR Corporation for approximately $800 million in an all cash transaction. The transaction is expected to be completed in the first quarter of 2013.
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).
Meitar represented Carmel Ventures and Magma Ventures, shareholders of Israeli chip company DesignArt, in its acquisition by Qualcomm – the world leader in 3G and next-generation mobile technologies.
Meitar successfully defended an accounting firm in defending against a motion to certify a multimillion dollar class action claim, leading to the denial of the motion. The plaintiffs have filed an appeal to the Supreme Court, which is pending. The claim involves novel issues of securities law and professional negligence as applied to class action claims.
