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Its $811 million acquisition of EZchip Semiconductor (EZCH.TA) will add to Mellanox Technologies' (MLNX.O) revenue and net profit immediately, Mellanox's chief executive said on Wednesday. A majority of EZchip's shareholders on Tuesday voted in favor of the deal, paving the way for a sale that had been contested by activist shareholder Raging Capital Management. The largest deal ever between two Israeli high-tech companies, it still requires regulatory approval and is expected to close in the second half of February, Mellanox CEO Eyal Waldman told Reuters.
It took a little longer than expected, but Eyal Waldman is getting his way.
The majority of EZchip Semiconductor Ltd's shareholders have voted in favor of a merger with Mellanox Technologies Ltd, the companies said on Tuesday, paving the way for a deal that had been contested by an activist shareholder. About 84 percent of shareholders voted in favor of the deal between the Israel-based semiconductor companies, which is expected to close in February, they said in separate statements. Mellanox, which supplies products that enable databases, servers and computers to connect with each other, announced in September it would acquire EZchip in an $811 million all-cash deal that would help it manufacture network processors.