Magic Software Enterprises Ltd. Merger with Matrix IT Ltd. Overview
Magic Software Enterprises (Magic) has entered into a definitive Agreement and Plan of Merger with Matrix IT Ltd. (Matrix). Magic will merge into a subsidiary of Matrix, becoming a wholly-owned, private subsidiary, resulting in the delisting of Magic shares from NASDAQ and transition to trading only on the Tel Aviv Stock Exchange (TASE).
Transaction Structure and Consideration: Magic shareholders will receive Matrix ordinary shares, resulting in them owning an estimated 31.125% of the combined entity on a fully dilut
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