An update for those PAY investors who won't invite Mr. Bergeron for supper at their home... :~)
Seems like Shamir & Bergeron might re-consider GILT buyout (yeehaa, as I was among who voted against). However, in such a case Mr. Bergeron (ok, and Shamir et al.) owes us nearly $50M cash money for compensation. This is the deal we all signed on.
You all are encouraged to have a look at the action we have on GILT board.
Personaly I believe Bergeron cleans us from GILT at a ridiculous price (and let's not forget that minutes after GILT shareholders approval they offered the two buildings for sale, $70-80M please) but if Bergeron decides he wants to f*** with us, then by all means, grrr, let's give him a fight.
6:56AM 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.