Israeli Stocks: Ceragon, Elbit, Israel Chemicals, Radvision
Israel’s TA-25 Index fell 0.2 percent to 1,337.56 at the 4:30 p.m. close in Tel Aviv. The measure added 0.1 percent this week. Investors traded about 1.1 billion shekels ($300 million) in shares and convertible securities.
The following stocks rose or fell today. Symbols are in parentheses.
Ceragon Networks Ltd. (CRNT IT) climbed to the highest level since December 2007, rising 6 percent to 51.32 shekels. The developer of wireless networking systems entered into a definitive agreement to acquire all the outstanding shares of Nera Networks from Eltek ASA.
Israel Chemicals Ltd. (ICL IT), the company which extracts minerals from the Dead Sea to make fertilizer, dropped 3.8 percent, the most in almost two months, to 61.10 shekels. Cargill Inc. plans to split off its majority stake in Mosaic Co., North America’s second-largest fertilizer producer, in a $24.3 billion deal. Mosaic tumbled 10 percent yesterday.
ITL Optronics Ltd. (ITL IT) increased the most in a month, adding 5.1 percent to 12.47 shekels. Elbit Systems Ltd. (ESLT IT) offered to buy the remaining 12 percent of the maker of electro-optic products at 12.5 shekels per share. Elbit fell 1.1 percent to 194.6 shekels.
Perrigo Co. (PRGO IT) gained to the highest level since Sept. 27, adding 3.7 percent to 245.50 shekels. The maker of over-the-counter drugs and infant formulas, agreed to buy the assets of closely held Paddock Laboratories Inc. for $540 million in cash to expand in generic medicines.
Radvision Ltd. (RVSN IT) surged to the highest since September 2009, jumping 8.5 percent to 34.22 shekels. Hewlett- Packard Co. made a $250 million offer to buy the maker of video- conferencing systems, Calcalist reported, without saying where it got the information. Chief Financial Officer Adi Sfadia said Radvision doesn’t respond to rumors.
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