Mergers and Acquisitions
The services provided for merger and acquisition transactions include all relevant aspects such as the optimal deal outline, taxation, valuation, accounting, financing, anti-trust matters, business plans, due diligence and employee compensation plans, among others.
Cognum has taken part in some of the most important M&A transactions executed in the Israeli economy, such as the division of assets, inter alia, the controlling stakes in Bank Mizrahi and Melisron, among the members of the Ofer family, one of Israel's largest business groups (2018), Cellcom Israel's (NASDAQ: CEL) strategic investment in IBC fiber optic venture (2018), the privatization of Israel Military Industries (2017 - $0.5 billion), an acquisition proposal of Golan Telecom by Cellcom Israel (2016 - not approved by the antitrust authority); the merger of Adama (Makhteshim Agan) - ChemChina (2011 - aggregate value $2.5 billion), the merger of Melisron - British Israel (2011 - aggregate value of $1.25 billion), the merger of Oil Refineries - Carmel Olefines (2009 - aggregate value $2.5 billion), the merger of the cable companies (HOT) (2006 - aggregate value $0.6 billion), Strauss - Elite (2004 – aggregate value $1 billion), Clubmarket - Shufersal (2005 - aggregate value $1 billion), I.D.B. - Clal (2000 - aggregate value $2.5 billion), Elbit Systems - El Op (2000 - aggregate value $0.6 billion), and the merger of Ashtrom - Nizba, two of Israel’s largest real estate companies. The firm has also provided consulting services in connection with strategic acquisitions of holding companies by the leading banks in Israel; for example, the acquisition of Harel Insurance Investments by Discount Bank in 2000.
Cognum is one of Israel’s leaders in the area of PPA (Purchase Price Allocation) as part of an acquisition process. The PPA method has been applied in Israel since 2006. Cognum has conducted PPAs for the Delek Group acquisition of Cohen Development (Oil & Gas) (2012), Delek Motors Ltd. (2011), Shufersal Ltd. (2010), Oil Refineries Ltd. – Ashdod (2006), and the cable companies' merger (HOT, 2006), among others,.