- ViaSat, Inc VSAT stock is up Thursday after the communications company disclosed the European Commission's (EC) unconditional approval of its acquisition of mobile satellite communications services provider Inmarsat.
- The approval follows the recent U.K. Competition & Markets Authority's clearance on May 9, 2023, and that of the U.S. Federal Communications Commission on May 19, 2023.
- The two companies will now work to expedite the completion of the transaction, which is likely to close by the end of this month.
- On November 8, 2021, ViaSat agreed to takeover Inmarsat for $7.3 billion, comprising $850.0 million in cash, 46.36 million shares of Viasat valued at $3.1 billion based on the closing price on Friday, November 5, 2021, and the assumption of $3.4 billion of net debt.
- The combination will likely create a leading global communications innovator with enhanced scale and scope to affordably, securely, and reliably connect the world.
- Price Action: VSAT shares traded higher by 2.07% at $44.33 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
