Tadiran Communications denies conducting concrete talks to buy Elisra divisions from Koor Industries (Nasdaq:KOR), as reported in Yedioth Ahronoth today.
Rumors have been circulating for months that Koor wants to sell Elisra, which consists of Elisra, Tadiran Spectralink, Tadiran Systems and BVR Systems (Nasdaq:BVRS) (51%).
Koor's asking price is $300 million cash. Elbit Systems wants to do the deal in stock, while Tadiran is reportedly willing to pay cash, Yedioth reported.
In the past Elbit Systems also denied holding talks to buy Elisra. Today its spokesperson told TheMarker.com that there is nothing to report at this stage.
"There's nothing concrete at this point," Tadiran Communications chief executive Hezi Hermoni, currently on a visit to Hong Kong, told TheMarker.com. "We did state in the past that our strategy is to expand in military and similar areas... in the United States and Israel. I believe we are financially capable of doing so.
"But as far as Elisra is concerned, to date its owners have not put it on the block, and I am not aware that anything has changed," Hermoni said.
After a volatile year on the market, BVR Systems' market cap is at $26 million. Its 52-week low was 88 cents, its 52-week high $4. Its stock is currently at $2.40.
Tadiran Communications and Elbit Systems refused to comment.