Mellanox Rises to 9-Month High on Voltaire Approval
Mellanox Technologies Ltd. climbed to the highest level in almost nine months after the maker of semiconductor-based products said Voltaire Ltd.’s shareholders approve the merger agreement between the companies.
The shares advanced 3.5 percent to 99 shekels, the highest since April 26, at the 4:30 p.m. close in Tel Aviv. The stock increased 32 percent in the past year.
Mellanox expects the merger to be completed in the first quarter of 2011, according to a statement to the Tel Aviv Stock Exchange. Voltaire shareholders will receive $8.75 in cash for each Voltaire ordinary share, it said.
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