Gilat Satellite Networks downgraded to "market perform"

04/01/08 - William Blair & Co

NEW YORK, April 1 (newratings.com) - Analysts at William Blair & Co downgrade Gilat Satellite Networks Ltd (GILT) to "market perform."

In a research note published yesterday, the analysts mention that the company has announced that it has agreed to be purchased by a group of private-equity investors, including Mivtach Shamir, for $475 million in cash. The emergence of any other potential acquirer is unlikely, given the antitrust issues for strategic buyers and the extended negotiation period, the analysts say. The downgrade in rating is based on the expectation of the deal being closed going forward, William Blair & Co adds.