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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…

Congress

SASC’s FY ‘27 NDAA Sticks With Army’s Plan For Legacy Aviation Procurement Cuts

The Senate Armed Services Committee’s (SASC) version of the next defense policy sticks to the Army’s proposed plan to cut procurement of its legacy aviation fleet, and does not authorize […]

Congress

SASC Approves $1.14 Trillion FY ‘27 NDAA With ‘Right to Repair’ Reform, Stock Buyback Restriction

The Senate Armed Services Committee (SASC) has approved its $1.14 trillion version of the next defense policy bill, adopting “right to repair” reform to provide the military services’ greater ability […]

Congress

House Appropriators Unveil $1.07 Trillion FY ‘27 Defense Bill, Restore Funds For E-7, Army Aviation

House appropriators on Wednesday released their $1.07 trillion fiscal year 2027 defense spending bill, with the legislation reversing Army aviation cuts, restoring funding for the Air Force’s E-7 Wedgetail program […]

Congress

MOSA Implementation By Pentagon Lagging, GAO Official Says

While the Modular Open Systems Approach (MOSA) has been a requirement for major defense acquisition programs since January 2019 and other Defense Department acquisitions since January 2021, few programs are […]