Deals
Britain’s Inmarsat Satellite Group Going Private in $3.4 Billion Deal
- Shares jump more than 8 percent to above agreed offer price
- Satellite companies have faced oversupply, new competitors
Satellite dishes at Inmarsat Plc's headquarters in London.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Funds including Apax Partners and Warburg Pincus placed a $3.4 billion bet on surging demand for inflight broadband, agreeing to buy satellite operator Inmarsat Plc in one of the biggest ever deals to delist a U.K. company.
Inmarsat shares jumped more than 8 percent to top the offer price as some investors speculated another bidder may try to break up a deal that already has the backing of top shareholder Lansdowne Partners.