28th Feb 2019 17:58
LONDON (Alliance News) - Shares in satellite communications firm Inmarsat PLC on Thursday ended as the best performer in the FTSE 250, after Reuters reported US rival EchoStar Corp is planning a fresh approach for the firm.
Shares in Inmarsat closed up 6.0% at 399.80 pence on Thursday, while EchoStar shares were down 0.7% in New York.
Reuters, citing an article by CTFN M&A news, reported the US satellite group was expected to renew its interest Inmarsat "very soon", and no later than the next six months.
At the beginning of June, Inmarsat confirmed it had rejected a second takeover proposal from EchoStar which it believed "significantly" undervalued the firm. EchoStar subsequently withdrew its interest in Inmarsat.
https://uk.reuters.com/article/us-inmarsat-echostar-m-a/inmarsat-jumps-on-report-echostar-plans-new-approach-idUKKCN1QH25G
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