Gilat the Israeli satellite network group, is evaluating interest from several strategic and private equity buyers in buying the company. The company, which is listed on Nasdaq in the US and in Israel, could fetch more than $500m in a sale. Bids are due at the end of this week.
Participating in the auction are several buy-out firms, including Gores Group of California and Apollo Management, which has made numerous satellite investments in recent years and could fold Gilat into Hughes, one of its portfolio companies. Also in the running for Gilat is ViaSat, a California-based rival satellite networking group.