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Comtech files complaint against merger partner Gilat

Thursday 9 July 2020 | 09:45 CET | News
Comtech Telecommunications has filed a complaint against Gilat Satellite Networks, saying Gilat is contemplating certain actions that would breach its obligation under the merger agreement signed earlier this year with Comtech. The complaint was filed in the Delaware Court of Chancery. Without giving too many details, Comtech said the actions at issue in the complaint relate to its own pending application for regulatory approval in Russia. Comtech is also looking to see if the sharp decline in Gilat's business since the USD 532 million deal was signed, might give rise to a "material adverse

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Categories: Broadcast & Satellite / Mobile & Wireless
Companies: Comtech Telecommunications / Gilat Satellite Networks
Countries: World
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