Centerbridge Said Pursuing $3.3 Billion LightSquared Deal

Centerbridge Partners LP, a New York-based private-equity firm, is teaming up with Phil Falcone’s Harbinger Capital Partners and Fortress Investment Group LLC to acquire LightSquared Inc. for $3.3 billion, according to a person familiar with matter.

The offer price doesn’t include about $1.7 billion in loans and liabilities, according to the person, who asked not to be identified because the plan is private. The takeover of LightSquared, a bankrupt wireless-network provider, is contingent on a review by the U.S. Federal Communications Commission and other conditions, the person said.