Israeli M&A value slips 6% in 2019 to $20.4 billion – report

TEL AVIV (Reuters) – The value of mergers and acquisitions in Israel in 2019 fell 6% to $20.4 billion though the number of deals rose 34% to 166, according to a report released by Pricewaterhouse Coopers on Monday.

The value of deals in 2018 was boosted by the acquisition of Frutarom by International Flavors & Fragrances for $7.1 billion.

PwC Israel said the value of “mega deals” in 2019 was more modest, highlighting the Orbotech acquisition by KLA-Tencor Corp for $3.4 billion and of Chevron North Sea by Delek Group for $2 billion as prominent deals this year.

High tech led with $9.1 billion in deal value.

“The Israeli M&A market is not showing any signs of slowing down,” PwC Israel partner Liat Enzel-Aviel said.

She noted that Nvidia’s acquisition of Mellanox, Intel’s purchase of Habana Labs and Baring Private Equity Asia’s acquisition of Lumenis — with a combined value of about $10 billion — are all expected to close in early 2020.

Reporting by Tova Cohen; Editing by Steven Scheer

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