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Gilat Gets Israeli Government OK for Exchange Offer

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Gilat Satellite Networks [Nasdaq: GILTF], an Israeli satellite networking technology provider, has received approval from the Israel Securities Authority allowing Israeli residents to participate in a notes for shares exchange offer expected to raise about $88 million. The company announced Oct. 14 that it would accept for exchange all notes validly tendered and not withdrawn prior to the expiration date, which is 12:00 midnight (EST) on Nov. 10.

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