We were proud to represent our long-time client, Ceragon Networks Ltd. (NASDAQ: CRNT), a global 5G wireless communications equipment provider, in successfully defending against a hostile bid and a proxy fight in an attempt to take control of the Ceragon Board.
Earlier this week, Ceragon’s shareholders demonstrated their support for Ceragon’s board of directors by overwhelmingly dismissing an attempt made by Aviat Networks Inc., Ceragon’s US competitor, to oust three of Ceragon’s board members and replace them with five Aviat director nominees, thus taking control of the Ceragon board to facilitate their low-ball purchase offer.
Ceragon shareholders have voiced a clear message that Aviat’s offer to purchase Ceragon significantly undervalues Ceragon and is not in their best interest.
Kudos to the Shibolet team, who advised Ceragon in various aspects that surrounded this hostile attack, including in the development and implementation of the legal strategy for this sensitive matter.
Our team, led by Lior Aviram, included partners Shelly Blatt Zak, Ofer larisch, Adi Zaltzman, Inbal Raz, Itshak Cohen-Yehonatan, and Ivor Krumholtz, and Associates Aviv Sheizaf, Jonathan Ashkenazi, Jonathan Neumann, Noy Rindner and Yotam Shor.
