|
SATELLITE TODAY :: DAILY NEWS FEED
September 4, 2008
[Satellite Today 09-04-08] Gilat Satellite Networks CEO Amiram Levinberg told Satellite Today that he was surprised that the proposed deal for a group of investors to acquire the company deteriorated so quickly.
Gilat signed an agreement in March to be acquired by a consortium of investors for $475 million, but according to Gilat, the investors tried to change certain conditions of the deal, which ultimately led to its termination in August.
“I would say that we were taken somewhat by surprise,” Levinberg said. “This agreement was heavily negotiated, and there was a very long due diligence process which took 10 to11 months. It was a fairly intense process with consultants and bankers and that the like.”
Gilat will seek a $47 million termination fee from the consortium.
An interview with Amiram Levinberg can be found in the September 9th issue of Satellite News. For more information about subscribing to Access Intelligence’s satellite newsletters, check out our Web site at www.satellitetoday.com/VIP
Click here for more of today's headlines
Register Now for Digital Switchover: What It Means for Broadcasters Webcast, Tuesday, December 16th, 1:00 ET
Join Via Satellite and a panel of experts as they tackle this important and timely topic. This live one-hour webcast will address how this government-mandated move will affect satellite service providers, satellite operators and hardware manufactures. Discover lessons learned from other countries who have made the transition as well as what opportunities will be created post-switch. No travel required. Sign-up Today!
|
Print This Page
Email This Page
Archives
Copyright Permissions