Elbit Systems Ltd. (ESLT) announced that its board, as well as the board of directors of its subsidiary Tadiran Communications Ltd., has approved a plan to merge Tadiran Communications into Elbit Systems. The merger is expected to take place at the beginning of 2008.
Under the merger plan, Tadiran Communications will be merged into Elbit Systems and will cease to exist as an independent legal entity. In addition, a new, wholly-owned Elbit Systems subsidiary, Elbit Systems Land and C4I - Tadiran Ltd., will assume Tadiran Communications' Israeli operations as well as those of Elbit Systems' Land and C4I Division, all in accordance with the merger plan.
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