Hedge Fund Billionaire Bill Ackman Buys 5 Percent Stake in Israeli Bourse

Hedge fund billionaire Bill Ackman and his wife Neri Oxman have bought a significant stake in the Tel Aviv Stock Exchange (TASE), with the investment representing a vote of confidence in the Israeli economy as the country continues its grinding war against the Hamas terror group. The Israeli bourse said on Wednesday that Mr. Ackman and his wife would be buying a 4.9 percent equity stake in TASE, as part of the exchange’s secondary offering of roughly 17 million ordinary shares, priced at roughly $5.50 per share. TASE will receive roughly $65 million in net proceeds from the offering, which it said it plans to invest in its technology infrastructure....