19th Mar 2019 18:45
LONDON (Alliance News) - Satellite operator Inmarsat PLC confirmed after the market close Tuesday it had received a non-binding offer from a consortium of firms in late January, valuing the firm at USD7.21 per share.
Shares in Inmarsat closed 1.4% higher at 436.95 pence each, equivalent to USD5.80 per share.
The consortium - Apax Partners LLP, Warburg Pincus International LLC and the Canada Pension Plan Investment Board - made the cash offer on January 31. Subsequently, the consortium added the Ontario Teachers' Pension Plan Board to the members of potentially interested buyers under the deal.
Inmarsat - which was responding to media reports of an offer - also confirmed the proposal was still under discussion with a further announcement to be delivered in due course.
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