TEL AVIV, Israel--(BUSINESS WIRE)--Elron Electronic Industries Ltd. (NASDAQ:ELRN - News)(TASE:ELRN), announced today that it is commencing today a tender offer to purchase 1,462,640 ordinary shares of Given Imaging Ltd. (NASDAQ:GIVN - News)(TASE:GIVN) for $16.54 per share, net to the seller in cash, less any required withholding taxes and without interest. If the tender offer is completed, the total payments made by Elron will aggregate to $24,192,065. If more than the maximum number of shares offered to be purchased in the tender offer are tendered, Elron will purchase shares on a pro rata basis. http://biz.yahoo.com/bw/080516/20080516005317.html?.v=1
This is also what I'm doing. It seems that there is some (little) movement in this stock on the upside these last few days. Let's hope this continues. P/E is high though but I think the new target prices mentioned by the company will justify this in the near future. Any other comments?