Inmarsat receives new takeover offer from private equity funds

Nieuws Video Wereld 20 MAR 2019
Inmarsat receives new takeover offer from private equity funds

Inmarsat announced it's received another takeover bid, from a group of private equity and investment funds. The offer of USD 7.21 per share values the satellite company at around USD 3.3 billion and is a premium of 29 percent on its previous closing share price. 

The non-binding proposal comes from Apax Partners, Warburg Pincus, Canada Pension Plan Investment Board Ontario Teachers' Pension Plan Board. Inmarsat said it is still discussing the offer with the consortium and had not decided yet whether to accept it. 

Inmarsat last year rejected a bid from Echostar worth around USD 3.2 billion as too low. Eutelsat also considered making a bid for the company. 

Categories:

Satelliet

Companies:

Inmarsat

Regions:

Wereld

Tags:

M&A buyouts & divestments

Related Articles

WERELD 27 NOV 2019

Inmarsat takeover court hearing delayed to December

Inmarsat announced that the court hearing on the company's takeover has been delayed, to 3-4 December from 28-29 November. This was done to accommodate pressure on the court listing schedule, the company said.

VERENIGD KONINKRIJK 18 JUL 2019

UK competition watchdog starts merger inquiry into Inmarsat takeover

The CMA has also brought the acquisition to the attention of Jeremey Wright, the Secretary of State for Digital, Culture, Media & Sport. The Telegraph noted that under the 2002 Enterprise Act, the CMA has a duty to raise deals with the secretary of state if it thinks these may affect national security.

WERELD 24 JUN 2019

Inmarsat, RigNet agree to settle arbitration case

Inmarsat entered into a settlement deal with RigNet concerning all the claims in respect of the arbitration case at the International Centre for Dispute Resolution relating to Inmarsat's GX Take-or-Pay contract with RigNet. RigNet agreed to pay a final settlement of USD 50.75 million to Inmarsat. The settlement will be paid in three installments, the first two of which will total USD 50.0 million, to be paid before the middle of July.

WERELD 30 MAY 2019

Inmarsat picks Airbus to deliver Global Xpress satellite network

Inmarsat announced that Airbus Defence & Space (Airbus) was selected as its satellite manufacturing partner as part of a development of its Global Xpress (GX) network. Under the terms of the contract, Airbus will manufacture three next-generation GX satellites (GX7, 8 & 9), with the first scheduled to launch in H1 2023. The level of capital expenditure under this programme is in line with that provided for in Inmarsat's long term planning. As such, there is no change to the company's overall capex guidance

WERELD 15 MAY 2019

Eutelsat lowers FY revenue outlook, as underlying revenues contract 4% in fiscal Q3

The company confirmed the other financial objectives for the current and following years, noting that a return to slight revenue growth was still expected for FY 2019-20. It also said that it was working to secure significant savings on its annual tax burden, which should amount to a reduction of EUR 70 million.

WERELD 1 MAY 2019

Inmarsat Q1 revenues up slightly, profits hit by debt charge, takeover costs

Satellite operator Inmarsat reported first-quarter revenues up 0.4 percent to USD 346.9 million, as its expansion in aviation services helped offset weaker maritime and enterprise revenues and its declining business with Ligado. Profits were hit by one-time costs for the planned takeover of the group, which is expected to close in Q4. The company maintained its mid-term outlook issued in March. 

WERELD 25 MAR 2019

Inmarsat accepts USD 3.4 billion takeover bid from consortium of private equity funds

Inmarsat has accepted the takeover bid of Triton, a consortium of private equity and investment funds. The offer values Inmarsat at USD 3.4 billion. The USD 7.21 per share bid includes USD 7.09 in cash for each Inmarsat share plus a the previously announced final dividend of USD 0.12 per share. Stakeholders not eligible for the dividend will get a cash amount according to the number of Inmarsat shares held.

EUROPA 25 MAR 2019

Last week in telecoms: Italy remains hot, infrastructure focus in Germany and UK, M&A news in Germany, Switzerland and France

The outliers last week were Inmarsat and Turk Telekom. Combined with Deutsche Telekom (+1.2%) and Vodafone (+0.5%) both ending week 12 in positive territory, the Telecompaper Stock Index European Telecoms was able to produce a gain of 0.6 percent, outperforming the EuroStoxx 50 (-2.4%). Italy was particularly heavy with news. Infrastructure investment plans were topical in the UK and Germany, and 5G was in the spotlight in Germany and the Netherlands. Major takeover news came from Germany, Switzerland and F

WERELD 7 MAR 2019

Inmarsat revenues lift 7.6% in Q4 boosted by Aviation, GX broadband

Mobile satellite services provider Inmarsat said revenues for the fourth quarter rose 7.6 percent from the year before to USD 378.7 million. The company said growth was driven by the strength of its global GX broadband offering, particularly in Aviation, Government and Maritime, and by lower indirect costs. By segment, gains at Aviation (+51.8%) and Government (+13.1%) were able to offset losses at Maritime (-6%), Enterprise (-0.8%) and Ligado (-0.8%), which is not considered part of core operations.

WERELD 8 NOV 2018

Inmarsat upgrades FY outlook after solid growth in Q3 results

Mobile satellite services provider Inmarsat reported third-quarter revenues up 3.7 percent year-on-year to USD 369.3 million, driven by expansion in the aviation market and solids results in the government and enterprise segments. EBITDA improved 6.8 percent to USD 206.5 million, and net profit doubled year-on-year to USD 227.7 million, thanks to a non-cash gain on convertible debt.

WERELD 6 JUL 2018

Inmarsat says no to new GBP 3.2 bln bid from EchoStar

EchoStar confirmed the bid and said it will continue to find common ground with Inmarsat, with a view towards buying the company. It believes a combination of EchoStar and Inmarsat is "strategically compelling." The combined group would be one of the world's leading satellite providers and be well supported by a global portfolio of complementary assets and service offerings.

WERELD 26 JUN 2018

Eutelsat drops plans for Inmarsat bid

Eutelsat has dropped plans for a possible takeover bid for Inmarsat, less than 24 hours after first announcing the intentions. 

WERELD 9 JUN 2018

Inmarsat rejects 'significantly undervalued' bid from Echostar

Inmarsat said it has rejected a preliminary bid from Echostar. Without giving any financial details, Inmarsat said the offer "very significantly" undervalued Inmarsat and its standalone prospects. The company added that it remains highly confident in its independent strategy and prospects. 

Just In

16:42

SLT-Mobitel launches 5G network in Sri Lanka

16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

15:56

UK govt to ban AI-enabled nudification apps to protect women, girls

15:42

3 UK launches last-minute Christmas sale

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.