Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) (“Elbit Systems” or the “Company”) announced today, further to its announcement of April 7, 2020, that its wholly-owned Israeli subsidiary, IMI Systems Ltd. (“IMI”), has updated the conditional full cash tender offer issued on April 7, 2020, to acquire all ordinary shares of the Israeli publicly-traded company, Ashot Ashkelon Industries Ltd. (“Ashot”), held by the public, currently representing approximately 15.02% of Ashot’s outstanding share capital (the “Updated Tender Offer”).
The Updated Tender Offer will remain open through April 27, 2020 and is for the price of NIS 12 (approximately $3.37) per share and for a total consideration of NIS 42,479,436 (approximately $11.959 million). The price reflects a premium of approximately 86.77% above the closing price of Ashot’s shares on April 6, 2020 and approximately 17.88% above the closing price of Ashot’s shares on April 21, 2020.
The Updated Tender Offer documents, detailing the terms of the offer, have been filed with the Israeli Securities Authority and the Tel Aviv Stock Exchange.