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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Gilat Satellite Networks Ltd. (“Gilat” or the “Company”) (NASDAQ: GILT) to Comtech Telecommunications Corp. (“Comtech”) (NASDAQ: CMTL). Under the terms of the merger, Comtech will acquire Gilat in a cash and stock transaction pursuant to which Gilat shareholders will receive $10.25 in 70% cash and 30% Comtech common stock per ordinary share.
The Gilat merger investigation concerns whether the Board of Gilat breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction and whether Comtech is underpaying for Gilat shares, thus unlawfully harming Gilat shareholders.
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