Inmarsat confirms receipt of potential $7.21 per share offer from PE consortium
The Board of Inmarsat notes the recent media speculation regarding a possible offer for Inmarsat. The Board of Inmarsat confirms that on 31 January 2019 it received a non-binding proposal from Apax Partners, Warburg Pincus International and Canada Pension Plan Investment Board regarding a possible cash offer of $7.21 per Inmarsat share for the entire issued, and to be issued, share capital of Inmarsat. The proposal assumed no further dividends would be paid by Inmarsat following the date of the proposal. Apax, Warburg Pincus and CPPIB subsequently confirmed that Ontario Teachers' Pension Plan Board would also be supporting the proposal as part of the Consortium. "The proposal remains under discussion between the company and the consortium. As such, there can be no certainty as to the terms on which any offer would be made. Nor is it certain that the discussions will lead to any firm offer for the company. A further announcement will be made in due course," the company said.