Aerospace Group:

Elbit Systems Signs Agreement To Buy Units of Mikal Ltd.

DDN

Friday, September 3rd, 2010

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Elbit Systems Ltd. recently said it signed an agreement to acquire all the shares of Soltam Systems Ltd. ("Soltam"), Saymar Ltd. ("Saymar") and ITL Optronics Ltd. ("ITL"), that are currently held by Mikal Ltd. ("Mikal") and its subsidiaries. The signed agreement provides for the acquisition of Mikal's interests in the above mentioned Mikal subsidiaries, which are synergetic to Elbit Systems, rather than the acquistion of Mikal itself, as was contemplated in Elbit Systems' prior announcements. When the acquisition is completed,…

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