June Edition 2023

53 INTRODUCTION The Israeli M&A market, which is heavily reliant on foreign investment and on its local hightech market, has not been immune to the global slowdown in M&A activity in 2022. After several years of record-breaking deals in terms of both deal size and company valuations, the cautiousness of buyers has increased due to international trends of inflation and rising interest rates. Additionally, local factors, such as the Israeli government’s plan to overhaul the judiciary, which has sparked strong public protests, have added uncertainty to the market. As the Tel Aviv Stock Exchange indices lag behind other stock markets, some investors have recognized the potential opportunities amidst the crisis. Over the past year, there has been a growing interest in going private transactions, where publicly traded companies become privately owned, delisting their shares from the exchange. Going private offers several benefits to companies, including increased flexibility, reduced regulatory requirements, and the potential for higher long-term profits by prioritizing long-term growth over shortterm shareholder interests and market pressures. These transactions are appealing to investors seeking to focus on long-term growth and strategic changes. While most Israeli publicly listed companies are registered on the Tel Aviv Stock Exchange (TASE), others are traded on NASDAQ and other global exchanges (or dually listed). However, the corporate laws governing a going private transaction of an Israeli Going Private Transactions