Algemeiner – Financial Algorithms, an Israeli information technology company that creates trading algorithms for hedge funds, is the target of a $4 billion takeover bid from an unidentified foreign buyer, Bloomberg News reported on Thursday, based on an unsourced report in Israel’s Calcalist business newspaper.
Financial Algorithms, founded in 2001, employs about 100 workers in Herzliya and posted a profit of $330 million in 2013, Calcalist reported, saying that the company was considering the approach by the foreign group.
