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Finance

Report: Inmarsat Buyers Stand Firm on $3.4 Billion Offer

By Lina Saigol, Selin Bucak | December 2, 2019

Investors

Satellite operator Inmarsat’s office in central London. Photo: LEON NEAL/AFP via Getty Images

The private equity buyers of Inmarsat refused to bow to shareholder pressure and increase their $3.4 billion bid for the U.K. satellite operator on Monday, just one day before a scheduled court hearing to approve the deal.

The buyout consortium, which includes Apax Partners, Warburg Pincus, Canada Pension Plan Investment Board and Ontario Teachers’ Pension Plan Board, has been under pressure from several hedge funds to raise its offer and delay the court hearing.

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