Eutelsat Confirms it Rejected $3.2 Billion Bid From Drahi
- France-backed firm’s management unanimously rejected bid
- Eutelsat beams television signals and data across the globe
illustration of EUTELSAT 36D satellite
Source: Eutelsat
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Eutelsat SA rejected a takeover bid from billionaire Patrick Drahi that valued the satellite operator at 2.8 billion euros ($3.2 billion), the Paris-based company said Thursday.
The offer, worth 12.10 euros per share, was rejected unanimously by Eutelsat’s management, the company said in a statement, confirming a Bloomberg report. Eutelsat shares soared 16% in Paris to almost match the offer price.