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Inmarsat in $3.3 billion cash acquisition talks, shares jump

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Staff Writer |
Inmarsat
Acquisition   Opening up the possibility of a bidding war

Inmarsat shares jumped 17 percent on Wednesday after the British satellite operator said it was in talks about a $3.3 billion cash offer from a private equity-led consortium, opening up the possibility of a bidding war.

The consortium, which initially included UK-based Apax Partners, U.S.-based Warburg Pincus and Canada Pension Plan Investment Board (CPPIB), was later also joined by Ontario Teachers' Pension Plan Board, Inmarsat said.

"The proposal remains under discussion", Inmarsat said late on Tuesday. The January 31 approach came six months after Inmarsat rebuffed a $3.25 billion cash and shares bid from U.S. satellite group EchoStar.


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