Swiss food manufacturer Nestle has reached an agreement with Osem's Special Committee of the Board - comprised of its independent directors - buy out minority shareholders of the Israeli food maker for more than $840 million.
According to its website, Nestle will pay Osem investors 82.50 shekels a share in order to acquire the roughly third of the company it doesn't already own. Nestle has been investing in Osem for over 20 years.
Established in 1942, Osem produces and distributes a wide range of high-quality branded food products, including Cheerios. The company is Israel’s largest publicly-traded food maker.
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