(Wikimedia)
Inmarsat is considering a £2.5 billion takeover offer from a private equity consortium that includes one of its former owners.
Apax Partners have been joined in the bid by Warburg Pincus, alongside the Canada Pension Plan Investment Board and Ontario Teachers’ Pension Plan Board. They’ve made a non-binding offer of $7.21 per share.
“The proposal remains under discussion between the company and the consortium,” Inmarsat said in a statement on Tuesday.
It’s the second time in a year that Inmarsat has received a takeover offer.
In June 2018, Eutelsat announced it wouldn’t be pursuing a bid for the London-based company.
A month later Inmarsat rejected a 532p share offer from Charlie Ergen’s Echostar.
Inmarsat is responsible for supplying communications to Britain’s armed forces, governments and aid agencies, as well as to the aviation sector.
In 2003 Apax and Permira took Inmarsat private before listing on the London Stock Exchange in 2005.
