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Article: Elron Announces Receipt of Non-Binding Indication of Interest to Acquire Medingo.
- Article from:
- Mergers & Acquisitions Week
- Article date:
- November 11, 2009
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Elron Electronic Industries Ltd. (NASDAQ:ELRN)(TASE:ELRN) announced that a non-binding indication of interest (the "Indication") of a third party regarding a potential acquisition of Medingo Ltd. ("Medingo"), an Elron subsidiary, has been received.
The Indication relates to an acquisition of Medingo's entire share capital for a cash consideration ranging from $150 million to $170 million and a contingent additional cash consideration conditional upon one or more milestone(s) to be mutually agreed, which may bring total consideration up to between $185 million and $213 million. The transaction would be subject mainly to (i) the parties entering into a mutually ...