Israel’s Elbit Systems [ESLT] last week said that all approvals required for the merger of Tadiran Communications with and into Elbit have been obtained, and the Israeli Registrar of Companies issued its merger order on June 30.
This is further to the announcement on Nov. 7, 2007, regarding Elbit Systems Board of Directors’ approval of the merger, the company said.
“Pursuant to the approved merger, Tadiran Communications transferred all of its assets and liabilities to Elbit Systems…and no longer exists as a legal entity,” Elbit said in a statement.
The merger is part of Elbit Systems’ re-organization plan (Defense Daily, Nov. 16, 2007). It includes a merger and a vertical demerger of Elbit Systems’ Land Systems and C4I Division together with most of the operations and activities of Tadiran Communications in Israel prior to the merger. These have been combined into a wholly owned Israeli subsidiary, Elbit Systems Land and C4I-Tadiran Ltd., Elbit said.
“The demerger occurred immediately after the approval of the merger and as an integral part thereof,” Elbit said. In addition, Tadiran Communications’ former subsidiaries in the United States have become a part of the Elbit Systems of America companies, Elbit added.