The company is due to launch the first batch of its Pearls constellation nano-satellites network with Virgin Orbit by mid-2019.
Aaron Frenkel, who has a 30% stake in the UAV developer, will be unable to block the deal, market sources believe.
On show at Aero India, the new missile travels faster than the speed of sound and can destroy underground targets.
Chim-Nir, the operator of Elbit's firefighting squadron, is under a stay of proceedings.
The Beersheva plant manufactures the Dvora and Super Dvora patrol boats.
SpaceIL's spacecraft Beresheet is due to land on the moon in April and make Israel a member of a very exclusive club.
Phoenix controlling shareholder Aaron Frenkel is liable to demand a much higher price for his 30% stake than Rafael and Avichai Stolero are offering.
After also buying an additional 4% stake in the Israeli UAV developer earlier this week, Frenkel now has a 30% stake in Aeronautics.
Light & Strong specializes in aerospace and military carbon fiber and glass fiber composite components production.
Frenkel has brought his stake in the Israeli UAV company to 24.6%, giving a further boost to its share price.
Former head of the Israel National Information Security Agency Erez Krainer tells "Globes" about the risk of foreign countries influencing the election results.