Bloomberg News

Neviot-Teva Stock Jumps Most on Record After Buyout Offer

October 10, 2011

(Updates with closing share price in second paragraph.)

Oct. 10 (Bloomberg) -- Neviot-Teva Hagalil Ltd. surged the most on record after controlling shareholder Central Beverage Co. offered to buy the rest of the mineral-water bottler for 12.907 shekels a share, or 13.3 million shekels ($3.6 million).

The shares surged 65 percent, the biggest gain since at least February 1996 when Bloomberg began tracking the shares, to 12.95 shekels at the 4:30 p.m. close in Tel Aviv. The advance trimmed this year’s loss to 16 percent, giving the Lod, Israel- based company a market value of 125 million shekels.

--Editors: Peter Branton, Robert Valpuesta

To contact the reporter on this story: Susan Lerner in Jerusalem at slerner2@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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