IMI Systems Ltd. made an offer to remaining 15% stake in Ashot Ashkelon Industries Ltd. (TASE:ASHO) for ILS 24.8 million on April 7, 2020. IMI Systems Ltd. will acquire remaining shares at ILS 7 per share. As of April 22, 2020, IMI Systems Ltd has revised offer to ILS 12 per share. As per revised offer, IMI Systems Ltd. will acquire remaining 15% stake in Ashot Ashkelon Industries Ltd. for ILS 42.5 million. The Offer is subject to the fulfillment of at least one of the following conditions: (1) offerees that do not accept the Offer, represent less than 5% of the total outstanding share capital of Ashot and more than half of the offerees that do not have a personal interest in the Offer, accept it, or (2) offerees that do not accept the Tender Offer represent less than 2% of the total outstanding share capital of Ashot. If the condition is fulfilled, IMI will purchase, at the offer price, all of Ashot’s outstanding ordinary shares held by the public, including those held by shareholders who do not accept the Offer. The offer period will remain open through April 26, 2020. As of April 22, 2020, offer will close on April 27, 2020. IMI Systems Ltd. cancelled the acquisition of remaining 15% stake in Ashot Ashkelon Industries Ltd. (TASE:ASHO) on April 27, 2020. Conditions to implement the offer were not met resulting in cancellation.