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Business/Financial

Elbit Receives Approvals From Israel Government In Deal For IMI Systems

By Cal Biesecker

Wednesday, June 20th, 2018

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Elbit Receives Approvals From Israel Government In Deal For IMI Systems

Israel’s Elbit Systems [ESLT] on Tuesday said it has reached agreement with the Israeli government for the tender of state shares related to the company’s pending $495 million acquisition of IMI Systems Ltd., which is also based in Israel.Elbit said completion of the deal is still subject to further government approvals, including by Israel’s antitrust authority.In addition to the agreed purchase price, the acquisition includes an additional payment of about $27 million based on IMI meeting certain performance goals.“IMI Systems…

Army

Lawmakers Request DoD Briefing On Army’s Planned Cuts To Aviation Procurement

A bipartisan group of House lawmakers has sent a letter asking the Pentagon for a briefing on the potential industrial base impacts as a result of the Army’s planned cuts […]

Congress

CENTCOM Looking To Lessons Learned From Use Of LUCAS Drones

U.S Central Command (CENTCOM) is looking to lessons learned from its use of Low-cost Unmanned Combat Attack System (LUCAS) drones by Phoenix-based SpektreWorks, according to CENTCOM head Adm. Brad Cooper. […]

Army

Hegseth Says DoD Open To Reviewing Army’s Planned Cuts To Legacy Helicopter Procurement

Defense Secretary Pete Hegseth has told lawmakers the Pentagon is open to reviewing the Army’s planned procurement cuts to its legacy manned aviation fleet. Rep. Rosa DeLauro (D-Conn.), ranking member […]

Congress

Appropriators Press For Details On Iran War Costs; DoD’s $29B Estimate Doesn’t Include Base Damage

The Pentagon estimates the U.S.’ ongoing conflict with Iran has now cost at least $29 billion, while a lead official noted the updated figure does not factor in damage to […]