Gilat Satellite provides update on merger transaction; cos questioning whether all of the conditions of the merger agreement have been met (GILT) 9.12 : Co announces that it has notified the consortium of private equity investors that had entered into an agreement with the company for its acquisition, that Gilat has fulfilled all of the conditions precedent for the closing of the transaction. The consortium members, The Gores Group LLC, Mivtach Shamir Holdings, companies affiliated with Roy Ben-Yami, Ami Lustig and Eytan Stibbe and DGB Investments, have notified Gilat that they are questioning whether all of the conditions of the merger agreement have been met. The consortium has not provided a formal response to Gilat at this time. The parties are engaged in ongoing discussions on this issue in an effort to complete the transaction in the timeframe contemplated by the merger agreement.
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