RTR: Viasat to buy UK rival Inmarsat in $7.3 billion deal

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…

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The full press release can be found here.

Viasat stock down 11.93% before midday (EST).