Inmarsat rejects 'significantly undervalued' bid from Echostar

News Video Global 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. 

Inmarsat issued the statement after bid speculation pushed its shares to a three month high, Reuters reported. The stock closed up 13.5 percent, giving it a market capitalization of USD 2.95 billion, or GBP 2.2 billion.

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Satellite

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Global

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Shareholders & subsidiaries, Corporate strategy, M&A buyouts & divestments

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