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Updated: 12/2/2009 1:14 PM					Sponsored by:
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Gilat says conditions satisfied for $475M buyout

By Associated Press
August 14, 2008 | Comments (0)

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Gilat Satellite Networks Ltd. said Thursday that it informed a group of private-equity investors that have agreed to buy the company that it has fulfilled conditions necessary for the deal to close.

Gilat, an Israel-based provider of products and services for satellite-based communications networks, had said in March that the group had agreed to buy it for $475 million in cash.

The investor group includes The Gores Group LLC, Mivtach Shamir Holdings Ltd., DGB Investments Inc. and companies affiliated with Roy Ben-Yami, Ami Lustig and Eytan Stibbe.

Gilat said Thursday that the group notified the company that it is looking into whether Gilat fulfilled conditions of the merger, and that it hasn't given Gilat a formal response.

Gilat shares rose 24 cents to $9.36.

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