UK $3 bln satellite deal hits escape velocity, says LiamWardProud:
Inmarsat said on March 19 that it had received a non-binding takeover proposal from a consortium led by private equity funds worth $7.21 a share in cash, valuing the satellite operator’s equity at $3.4 billion.
The consortium includes Apax Partners, U.S.-based Warburg Pincus, Canada Pension Plan Investment Board and the Ontario Teachers' Pension Plan Board. Inmarsat said the proposal came on Jan. 31, six months after Inmarsat rebuffed a $3.25 billion bid from U.S. satellite group EchoStar. The consortium has until April 16 to make a firm offer.
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