Israel Military Industries Bidders Say State Overvalued Company

Sources say IMI is not worth minimum bid of NIS 1.1 billion and that terms give Elbit an advantage, de facto leaving it poised to become a 'military monopoly.'

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The state-owned Israel Military Industries is worth far less than the minimum bid of 1.1 billion shekels ($280 million) the Government Companies Authority has set for the arms maker, sources close to a bidder...