PETAH TIKVA, ISRAEL: August 17, 2008—Satnews Daily—With strong revenues at $70.3 million for the second quarter of 2007, Gilat Satellite Networks continues to attract a great deal of attention. Apparently, one company rumored to be extremely interested in obtaining Gilat as their very own is Hughes. The “word” is Hughes is offering a buyout at $12 per share, which is a premium price, somewhere around 37 percent above Gilat’s closing price. Before any acquisition could occur, even if Gilat’s board of directors approved the possible $465 million deal, the regulatory-minded U.S. FCC would have to bless the union.
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