Pozis Family Blocks Eli Dahan's Takeover Bid by Increasing Novolog Stake to 44.9%
The Pozis family has thwarted Eli Dahan's Movment group's attempt to take control of the pharmaceutical distributor Novolog by acquiring an additional 18.2% of the company's shares for 91 million shekels. This purchase raises the family's ownership to 44.9%. The shares were bought from Phoenix and Mori Arkin at 98 agorot per share, a 15% premium over the trading price of 86 agorot and 40% higher than Dahan's offer of 72 agorot per share made last week. Dahan's bid had offered a 5% premium over the market price and triggered a surge in Novolog's stock. The Pozis family, led by their son Oded who manages their control in the company, stated that the move reflects their confidence in Novolog's future and is part of a broader plan to strengthen the company's operations, improve performance, and increase shareholder value. They intend to enhance and expand the logistics division and appoint new professionals to the board, potentially replacing current chairman Eric Shor. Oded Pozis emphasized their commitment to restoring Novolog as a leading Israeli company by focusing on logistics, management, and growth to benefit all shareholders.
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