The U.S. Department of Justice approved Intelsat Ltd.‘s acquisition of Panamsat Corp. without conditions, Intelsat announced May 26.

“We are gratified that the Justice Department’s Antitrust Division, after a comprehensive review, agreed with us that the Intelsat-Panamsat merger does not pose any threat to competition,” Phillip Spector, Intelsat’s executive vice president & general counsel, said in a statement. “We demonstrated that the combination of Intelsat and Panamsat will create powerful efficiencies, with complementary fleets assuring enhanced protection and flexibility for our diverse sets of customers.”

Under the agreement, announced in August, Intelsat will acquire Panamsat for $25 per share in cash, or $3.2 billion. In addition, approximately $3.2 billion in debt of Panamsat and its subsidiaries will remain outstanding or be refinanced.

The deal was approved by Panamsat shareholders in October and also has been approved by non-U.S. regulatory agencies and the Committee on Foreign Investment in the United States. The deal remains under investigation by the U.S. Federal Communications Commission (FCC).

“We will be finalizing our financing over the next few weeks, and should be in a position to close soon after receiving FCC approval,” David McGlade, Intelsat’s CEO, said.