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Fly News Breaks for March 21, 2019
IMASY, IRDM
Mar 21, 2019 | 09:20 EDT
Northland analyst Paul Penney noted that Inmarsat (IMASY) received an unsolicited bid from a private equity consortium for about $3.35B, which equates to a 8.5 times multiple on 2019 EBITDA. This valuation "explicitly validates our ongoing valuation concerns" about Iridium (IRDM), which trades at an EBITDA multiple of about 16, said Penney, who keeps an Underperform rating on Iridium shares.
News For IRDM;IMASY From the Last 2 Days
