£2.6bn bid to take business private may have national security issues
The takeover offer for global satellite communications firm Inmarsat has been referred to the UK Competition and Markets Authority on the grounds that the deal, which involves taking the company private, may have national security implications.
The takeover offer, made in March this year, is valued at £2.6bn ($3.4bn), but with debt included it totals some $6bn. The offer was made by a consortium called Triton Bidco, which comprises UK-based Apax Partners, US-based Warburg Pincus, and two Canadian pension funds – CPPIB and the Ontario Teachers’ Pension Plan Board. Read on.