Log In | Become a Member | Contact Us


Leading printing executives into the future

Connect on Twitter | Facebook | LinkedIn

Featured:     European Coverage     Production Inkjet Analysis

Scitex Completes Self Tender Offer

Monday, June 21, 2004

Press release from the issuing company

TEL AVIV, Israel, June 20 -- Scitex Corporation Ltd. announced today that it has successfully completed its self tender offer to purchase its ordinary shares for $5.67 per share net to the seller in cash, less any required withholding taxes and without interest. The tender offer, which commenced on May 14, 2004, expired on Friday, June 18, 2004 at 5:00 p.m., New York time. Scitex has been advised by the depositaries for the tender offer that, as of the final expiration of the tender offer, a total of 4,952,050 shares had been validly tendered and not properly withdrawn pursuant to the offer. As contemplated in the offer to purchase, Scitex has accepted for purchase all of the 4,952,050 shares tendered, and shall purchase from each tendering shareholder the full amount of his or her tender. Scitex shall pay for the tendered shares approximately $28 million in the aggregate. The shares to be purchased represent approximately 11.5% of the 43,018,413 shares issued and outstanding as of immediately prior to the consummation of the tender offer. Scitex will have 38,066,363 shares issued and outstanding as of the time immediately following the payment for the tendered shares (excluding 5,401,025 treasury shares). Payment for the shares accepted will be made promptly through American Stock Transfer & Trust Company or Clal Finance Batucha Investment Management Ltd., the depositaries for the tender offer. After payment for the shares tendered in the offer and accepted for payment, Discount Investment Corporation Ltd. and Clal Industries and Investments Ltd., Scitex's principal shareholders, are expected to beneficially own, in the aggregate, 18,702,255 ordinary shares of Scitex, representing approximately 49.13% of the issued and outstanding shares of Scitex.

 

 

SHARE

Email Icon Email

Print Icon Print

Become a Member

Join the thousands of printing executives who are already part of the WhatTheyThink Community.

Copyright © 2016 WhatTheyThink. All Rights Reserved