Wait, don't miss out on the latest GovCon industry news!

Sign Up Now! GovCon Wire provides you with Daily Updates and News Briefings

*By clicking "Join us now" you agree to receive email, promotions and general messages from GovCon Wire, In addition, you also agree to GovCon Wire Privacy Policy and Terms & Conditions.

X Remind me Later

Report: Inmarsat Shareholders OK $3.4B Takeover Offer From Private Equity Firms, Pension Funds

Holders of nearly 79 percent of shares at Inmarsat approved Friday a $3.4B takeover offer from a consortium of private equity firms and two Canada-based pension funds, Reuters reported Friday.

The vote came after the U.K.-based satellite telecommunications firm’s board backed the $7.21 per share cash bid from Apax Partners, Warburg Pincus, Canada Pension Plan Investment Board and Ontario Teachers’ Pension Plan Board.

The consortium said its bid was driven by Inmarsat’s long-term communications contracts with government agencies and the potential of the firm’s broadband connectivity services business supporting airlines.

Inmarsat expects a scheme of arrangement for the takeover to take effect in the fourth quarter.

Video of the Day

GovCon Wire Logo

Sign Up Now! GovCon Wire provides you with Daily Updates and News Briefings about M&A Activity

Related Articles