May 15 (Reuters) - Norsat International Inc NII.TO :
* Norsat announces receipt of updated unsolicited, proposal from Privet Fund Management Llc
* Norsat International-received updated unsolicited, proposal from Privet Fund Management to acquire co for cash consideration of US$11.00 per share
* Privet proposal is not subject to any due diligence or financing conditions
* Norsat International - privet indicated it is prepared to sign agreement on non-financial terms and conditions identical to agreement with Hytera
* Norsat International- special committee comprising all independent directors of board will review, consider if Privet proposal is a "superior proposal" Source text for Eikon: ID:nCNW6vwd4a Further company coverage: NII.TO