Ronex Holdings begins tender offer for more than 2 million Retalix shares

By Lisa Kerner

Charlotte, N.C., Jan. 15 - Retalix Ltd. controlling shareholder Ronex Holdings LP began a cash tender offer to purchase up to 2,038,977 of the company's ordinary shares for $6.00 each, it was announced on Thursday.

The offer is set to end at 10 a.m. ET on Feb. 19.

Retalix shares closed at $5.88 (Nasdaq: RTLX) on Jan. 12, Ronex said.

Ronex currently owns 3,253,367 ordinary shares, or 16%, of Retalix.

According to Ronex, it entered into an agreement with Retalix founders Barry Shaked and Brian Cooper that gives Ronex beneficial shared power to vote over 5,038,331, or roughly 24.7%, of Retalix's outstanding shares.

If the tender offer is fully subscribed, Ronex will own approximately 26% of Retalix's outstanding shares, or 34.7% of Retalix's outstanding shares under the shareholder agreement.

Retalix provides integrated enterprise-wide software solutions. The company is based in Ra'anana, Israel.

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