Analysis: ORBCOMM buyout – short odds on a bidding war?
A detour wouldn’t come cheap for either but the appeal is there.
REUTERS reports:
U.S.-based Viasat on Monday agreed to buy British rival Inmarsat in a deal worth $7.3 billion, as it seeks to broaden its offerings of satellite- and land-based communications services.
The deal comes two years after Inmarsat was taken private in a $3.4 billion transaction by a consortium of UK-based Apax partners, U.S.-based Warburg Pincus and two Canadian pension funds.
The takeover offer includes $850 million in cash, about 46.4 million shares of Nasdaq-listed Viasat valued at roughly $3.1 billion and the assumption of Inmarsat’s $3.4 billion net debt, the companies said in a joint statement…
To read the full post, please click here.
The full press release can be found here.
Viasat stock down 11.93% before midday (EST).
Comment on this article