shekels: Nestle offered 3.3 billion shekels or 82.5 shekels per share for the Osem shares it does not own, Osem said in a filing to the Tel Aviv Stock Exchange, adding that the deal would value the company at 9.13 billion shekels, according to Euro News. That well above Wednesday closing price of 65.71 shekels and higher than an offer of 80 shekels it made to the company in November that led to an agreement in principle to sell. Nestle has invested in Osem for over 20 years and already owns 63.7 percent of the company, Israel third-largest food maker by sales, competing with market leader Tnuva and Strauss Group
. China Bright Food bought control of Tnuva last year for $1.1 billion to gain access to new products and technology. Upon completion of the deal … the company will become a private company that is fully owned by Nestle, Osem said. Osem shares surged on the news and were trading up 22 percent at 80.23 shekels at 1514 GMT. Nestle was down 1.5 percent to 74.05 euros. Following the buyout, Osem shares would be delisted from the Tel Aviv Stock Exchange. (news.financializer.com). As reported in the news. Tagged under shekels, China Bright Food topics.