Business General News

Aeronautics, an Israel drone maker gets $232 million acquisition offer


Aeronautics, an unmanned aerial vehicle maker have got a offer for 850 million shekels or $232 million by businessman Avihai Stolero and Rafael Advanced Defence Systems which a state-owned company.

Aeronautics share jumped by 37 percent earlier today. In August 2018, the company rejected an offer of 430 million Shekel from Stolero and Rafael.

This deal would make the company private and the company’s shares would be delisted from the Tel Aviv Stock Exchange.

The drone maker said that negotiations would take place until 15th February and has agreed to hold talks with other potential buyers. Rafael will conduct is due diligence until this period.