search
Front

Gilat and ECI again in merger talks

3 Oct, 2010 18:30
שלח תגובה במיילShmulik Shelah and Shiri Habib-Valdhorn

If a deal materializes, it will be through a share swap reflecting a value of $900 million to $1 billion for the merged company.

Talks on the sale of control in Gilat Satellite Networks Ltd. (Nasdaq: GILT; TASE: GILT) have been revived. The company is negotiating a merger with telecommunications equipment company ECI. ECI is controlled by Swarth Group, an investment vehicle controlled by Shaul Shani.

If a deal materializes, it will be through a share swap reflecting a value of $900 million to $1 billion for the merged company.

ECI and Gilat both declined to comment. In any event, completion of the transaction, if it goes ahead, is not expected anytime soon.

Talks between Gilat, which is 20% owned by York Capital, and ECI are not something new. In the late 1990s, a link-up between the two companies was on the agenda, but in the end it did not happen. Following the acquisition of ECI by the Swarth Group at the end of 2007, a merger was discussed more than once, and possibly the current talks are a continuation of the negotiations conducted with Gilat's shareholders in the past.

Published by Globes [online], Israel business news - www.globes-online.com - on October 3, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

Minister of Finance Bezalel Smotrich credit: Noam Moskovitz Knesset Spokesperson Treasury assesses potential damage to Israel's US exports

Israel will be charged a higher tariff on its exports to the US - its biggest export customer - than Turkey and the UAE.

Minister of Finance Bezalel Smotrich credit: Shlomi Yosef Smotrich meets wrong man in Washington

Minister of Finance Bezalel Smotrich tried to persuade Secretary of the Treasury Scott Bessent to soften the tariff blow on Israel - only Bessent isn't responsible for the matter.

Shekel credit: Shutterstock Vladirina 32 Shekel volatility after US tariffs announcement

The shekel is weakening sharply against the euro, which is gaining following the unveiling of Donald Trump's tariffs plan.

Combatica credit: Combatica Combatica launches next-gen VR AI training platform

The Israeli company's virtual reality platform includes 50 AI generated scenarios, seven maps and even situations for operating night vision.

Unframe founders credit: Yossi Yarom Israeli AI enterprise platform co Unframe raises $50m

Unframe’s turnkey AI solutions enable companies to solve any enterprise AI use case at scale with fully functional, customized AI solutions for businesses in a matter of hours, rather than months.

US President Donald Trump credit: Reuters Sipa USA Israel on list as Trump unveils tariffs

Relatively low reciprocal tariffs will be imposed on Israeli goods sold in the US.

Thu: Dual-listed stocks again depress TASE indices

As share prices tumbled in New York, the main indices in Tel Aviv fell today, despite rises by the banks.

Analysts see Israel-linked Nebius challenging CoreWeave

Nebius, founded by Yandex founder Arkady Volozh, operates in CoreWeave's AI server market, but is growing "more rationally", and has far less debt.

Elbit Systems rocket launcher credit: Elbit Systems Elbit Systems wins $130m European rocket order

The order is for the supply of rockets for Elbit's Precise and Universal Launching System (PULS), which has an effective range of up to 300 kilometers.

Highcon chairperson Shlomo Nimrodi credit: PR Packaging tech co Highcon winding down

The company, which numbers Benny Landa and JVP among its investors, is laying off most of its workforce, having lost 99.9% of its value since its flotation.

Big banks CEOs credit: Oren Dai, Jonthan Bloom and Israel Hadari Israeli banks unveil NIS 3b customer benefits package

The benefits over two years meet the target set by the Bank of Israel to ease the burden for customers, while the banks are reporting record profits.

Record public company profits credit: Tali Bogdanovsky Profits peak, but reckoning awaits

In what may seem a paradox, profits grew in almost every sector on the Tel Aviv Stock Exchange last year, but the boom was largely fueled by government spending.

Minister of Finance Bezalel Smotrich credit: Shlomi Yosef OECD sees recovery in growth but high inflation

The OECD Israel Economic Survey 2025 recommends that the Israeli government take several restraining measures, in order to exit the economic storm created by the war.

US President Donald Trump credit: Reuters/Leah Millis Israel moves to avoid Trump's tariffs axe

Minister of Finance Bezalel Smotrich has signed an order canceling all tariffs on imports from the US. The impact will mostly be on agricultural produce.

Governor of the Bank of Israel Amir Yaron credit: Government Press Office Debt fears top Bank of Israel's concerns

Most unusually, Governor of the Bank of Israel Amir Yaron's press conference last week did not focus on inflation and the impending interest rate decision.

Forbes Rich List credit: Shutterstock Maslowski Marcin Wiz founders ranked in Forbes 2025 Rich List

There are a few dozen Israelis listed in the 2025 Forbes Real-Time Billionaires List including Wiz founders Assaf Rappaport, Yinon Costica, Roy Reznik and Ami Luttwak.

Fitch ratings agency credit: Shutterstock Fitch reaffirms Israel's A rating with negative outlook

The ratings agency said, "The negative outlook reflects rising public debt, domestic political and governance challenges and uncertain prospects for the conflict in Gaza."

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018