Gilat Clears Way To Acquire Remaining rStar Shares
Petah Tikva, Israel-based Gilat Satellite Networks Ltd. [GILTF], completed a U.S. Securities and Exchange Commission review process to let the company acquire all the shares of rStar common stock that it does not already own for 60 cents a share in cash.
Gilat thus was able to begin distributing the necessary transaction statement to rStar’s stockholders. As previously announced, Gilat currently owns approximately 84.9 percent of rStar’s outstanding shares. Gilat has entered into an agreement with certain rStar stockholders to acquire an additional 9.3 percent of rStar shares for 60 cents a share in cash.