INMARSAT RECOMMENDS APAX/PERMIRA'S $1.5 BILLION BID.

From: Tech Europe | Date: October 28, 2003 | Copyright information

British-based satellite firm Inmarsat said on Thursday it had recommended a $1.538 billion (Euro 1.3 billion) takeover offer from UK-based private equity firms Apax Partners and Permira. Inmarsat said the firms are offering $15 per share to Inmarsat owners -- which include Britain's BT Group, Deutsche Telecom, France Telecom and Norway's Telenor. The board iss set to recommend a rival offer from U.S. buyout firms Apollo Management and Soros Private Equity, which was also valued at $15 a share. But Apax and Permira came back with a revised offer on October 15, which included the ...

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