The acquisition, originally announced in November, will raise Clal’s stake in Scitex to 19.7 percent
Sunday January 9, 4:25 am Eastern Time Clal buys 6.6 pct of Scitex TEL AVIV, Jan 9 (Reuters) – Israel’s Clal Electronics Industries said on Sunday it had completed the purchase of a 6.6 percent stake in Scitex Corp from International Paper (NYSE:IP – news) for $40 million, or $14 a share. The acquisition, originally announced in November, will raise Clal’s stake in Scitex to 19.7 percent. Discount Investment Corp. is buying IP’s remaining 6.6 percent stake in Scitex for the same amount. Scitex, a maker of digital preprint and printing systems, closed at $14-5/8 on Friday on Nasdaq. Clal Electronics is a subsidiary of Clal Industries & Investments . Scitex share have been climbing up lately:
