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Tuesday, March 20, 2007 4:09:53 PM
http://biz.yahoo.com/prnews/070320/uktu005.html?.v=101
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Elbit Systems Issues Tender Offer for Balance of Tadiran Communications' Shares
Tuesday March 20, 4:27 am ET
HAIFA, Israel, March 20 /PRNewswire-FirstCall/ -- Elbit Systems Ltd. (Nasdaq: ESLT , the "Company") announced today that the Company issued a cash tender offer to acquire the balance of the ordinary shares of Tadiran Communications Ltd. (TASE: TDCM) ("Tadiran") that are not currently owned by the Company, excluding shares held by Tadiran itself. The Company currently owns approximately 43% of Tadiran's outstanding ordinary shares.
The tender offer period will remain open through April 19, 2007 and the tender offer is for a price of New Israeli Shekel 186 (approximately $44.20) per Tadiran share. The tender offer provides that in the event the required approval majority of 95% of Tadiran's outstanding ordinary shares to acquire all of the Tadiran shares is not obtained, then, subject to the applicable approval requirements, the Company will purchase at the same price per share, between 624,534 - 1,175,655 (approximately 5-9.1%) of the outstanding shares of Tadiran. The tender offer documents, detailing the material terms of the offer, have been filed with the Israel Securities Authority.
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