According to Reuters, Spectrum Equity Investors, Texas Pacific Group, and ViaSat remain in the bidding for the VSAT communications provider.
Reuters reported on Friday that Gilat Satellite Networks (Nasdaq:GILTF) had dropped out of the bidding for DirecTV Group Inc.'s (NYSE:DTV - News) "Direcway" VSAT satellite division, one of several units of DirecTV's Hughes Network Systems up for sale.
It is believed the Direcway division could sell for some $400 million.
Reuters mentioned three bidders still in the race for Direcway: Spectrum Equity Investors, Texas Pacific Group, and ViaSat Inc. (Nasdaq:VSAT ).
Gilat shares closed at $6.30 on Friday, down 5.69% on the day. The price gives the company a market cap of $140.02 million. In trading on the Tel Aviv Stock Exchange this morning, Gilat shares are down 5.87%, at NIS 29.00.
Published by Globes [online] - www.globes.co.il - on June 27, 2004