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Inmarsat considers $3.3bn takeover bid

Inmarsat has received a takeover offer of US $3.3 billion from a consortium led by private equity firms Apax Partners and Pincus.

{mprestriction ids="1,2"}The company has received a non-binding offer from the consortium, which also includes pension funds Canada Pension Plan Investment Board and Ontario Teachers’ Pension Plan. The offer was made on January 31 for US$7.21 a share in cash but has only been made public knowledge this week.

The proposal will remain under discussion. The consortium has until April 16 to make a formal offer.

Last year, US-based satellite company EchoStar pulled out of an offer made to Inmarsat.

Inmarsat’s shares had fallen 45 per cent over the past two years due to competition from companies such as ViaSat, OneWeb, and SpaceX.{/mprestriction}

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