Business in Brief: Intel Reportedly Offering $6 Billion for Israel’s Mellanox

Baudot-Trajtenberg steps down as deputy Bank of Israel governor ■ Shares advance for sixth straight session

FILE PHOTO: The logo of Mellanox Technologies is seen on one of its office buildings in Yokneam, Israel
\ NIR ELIAS/ REUTERS

Intel reportedly offering $6 billion for Israel’s Mellanox

Less than two days after agreeing to invest $11 billion in new Israeli semiconductor-manufacturing facilities, Intel is reported to be offering to buy Mellanox Technologies for about $6 billion. Sources said the U.S. company is offering $110 a share, a 35% premium to Mellanox’s Nasdaq closing price on Tuesday. On Wednesday, the stock was up 6% at $86.55 mid-day local time in New York. If true, Intel is the third company to be eyeing the semiconductor company. In October the CNBC television network reported that Mellanox had hired an adviser to explore a sale after receiving takeover interest. In spite of Intel’s generous valuation, Mellanox CEO Eyal Waldman is expected to seek even more, perhaps as much as $120 a share. Waldman is said to believe that the company will be enjoying five years of strong growth because it has invested so heavily in new products. (Yoram Gabison)

Baudot-Trajtenberg steps down as deputy Bank of Israel governor

Bank of Israel Deputy Governor Nadine Baudot-Trajtenberg will step down at the end of February when her five-year term ends, the central bank said in a statement. Appointed by the previous governor, Karnit Flug, Baudot-Trajtenberg could have been given a second five-year term under the law. The new governor, Amir Yaron, needs to get government approval to name a successor and will probably hold off on doing so until after a new government is formed after the April 9 election. Baudot-Trajtenberg served as acting governor of the central bank between Flug's and Yaron’s terms. It was a brief stint, but included a decision by the bank’s monetary policy committee to increase the base lending rate for the first time in more than seven years.  A subsequent meeting of the committee after Yaron took over voted to leave the rate unchanged. Baudot-Trajtenberg, 62, was born in Montreal. Her husband is Prof. Manuel Trajtenberg. (Avi Waksman)

Shares advance for sixth straight session

Tel Aviv shares marked their sixth consecutive session of rises on Wednesday, but turnover was a very thin 971 million shekels ($265 million). The benchmark TA-35 index closed 0.3% higher at 1,546.52 points and the TA-125 ahead 0.6% at 1,403.34. BioTime soared 23.8% to 5.38 shekels after its reported that its OncoCyte affiliate reported positive results from a study of its DetermaVu liquid biopsy test for diagnosing lung cancer. Ham-Let rose 5.2% to 74.34 after it won a contract worth as much as $10 million connected with construction of a plant in Singapore for Micron Semiconductor. Bezeq dropped 3% to 2.96 after it said it would be cutting 800 jobs at subsidiaries over the next three years. Its parent company, B Communications, fell 4.5% to 16.34. Oil and gas shares were the top-gaining sector, paced by a 2.8% rise for Delek Drilling to 11.15 and a 3.4% gain for Naphtha to 24.39. (Michael Rochvarger)