Inmarsat submits evidence to shareholders questioning takeover of company

Writer,

Archived article

Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.

Satellite company Inmarsat said it had presented evidence to a law firm representing some shareholders concerned about its £2.6bn takeover by a consortium comprising Apax, Warburg Pincus and Canadian pension funds.

The shareholders have previously contended that the bid could undervalue the company in light of the potential for Ligado Networks to obtain a licence modification from the US Federal Communications Commission.

Inmarsat said it continued to consider the terms of the deal to be fair and reasonable.

A court hearing to sanction the acquisition is scheduled for 28 and 29 November.

At 1:10pm: (LON:ISAT) Inmarsat PLC share price was -1p at 555p