Thu: Ham-Let soars in flat market
The main indices were mixed today, leaving the Tel Aviv 35 slightly down for the week, while Ham-Let was boosted by its takeover announcement.
The Tel Aviv Stock Exchange closed mixed today. The Tel Aviv 35 Index rose 0.02%, to 1,471.80 points; the Tel Aviv 125 Index fell 0.01%, to 1,533.01 points; and the BlueTech Global Index fell 0.12%, to 517.38 points. The TelBond 20 corporate bond index rose 0.13%, to 365.81 points. Turnover totaled NIS 1.99 billion in equities and NIS 2.66 billion in bonds.
For the week, the Tel Aviv 35 Index fell 0.1%. The index is down 12.6% for the year to date.
Nice Systems led trading today, and rose 3.05%. Bank Leumi rose 0.58%; Discount Bank fell 1.36%; Bank Hapoalim fell 0.45%; and Elbit Systems rose 4.31%.
UCT buys Israeli co Ham-Let for $348m
Largest shareholder FIMI has more than tripled its 2012 investment in the industrial flow control systems developer for semiconductor production.
California-based Ultra Clean Holdings, Inc. (Nasdaq: UCTT) has announced an agreement to acquire Ham-Let (Israel-Canada) Ltd. (TASE: HAML) for $348 million in cash. UCT has secured a committed debt financing through Barclays to fund the acquisition and repay Ham-Let s debt.
UCT is buying all Ham-Let shares for NIS 64 per share, a 33.56% premium on the company s closing price of NIS 47.92 per share yesterday. On completion of the deal within the next three to six months, Ham-Let will become a private company and delist from the TASE.