Hints and tips:
...London-based Inmarsat said it had received “a highly preliminary and indicative non-binding proposal from EchoStar Corporation in relation to the potential acquisition of the entire issued, and to be issued...
...The company also lost its coveted position as the biggest corporation by market capitalisation as oil group ExxonMobil took its place....
...bid $16.5bn last June, weeks before the credit markets ground to a halt, has secured non-recourse financing from two South African financial institutions, Nedbank Capital and the Industrial Development Corporation...
...Last year, Permira Advisors of the UK participated in the $18bn buy-out of Freescale Semiconductors and last month BC Partners of the UK bought an 85 per cent stake in Intelsat, the satellite operator....
...Intelsat and PanAmSat, the recently merged US satellite operators, reduced a jumbo high-yield bond issue by $600m but still raised $2.9bn in volatile market conditions....
...“The combination of Intelsat and PanAmSat creates an industry leader with the ability to provide competitive communications and video services to consumers and businesses,” said David McGlade, Intelsat chief...
...The satellite sector seems set for a round of consolidation with plans already under way to create the world’s largest operator through the merger of PanAmSat and Intelsat in the US....
...Meanwhile, merger and acquisition activity continued on Monday when Intelsat agreed to buy PanAmSat for $3.2bn. Shares in PanAmSat shot up 20.2 per cent to $23.80....
...Last month Intelsat announced a $3.2bn bid for PanAmSat to create the world’s largest satellite operator, ahead of SES Global....
...These are likely to be followed by rivals, including Intelsat, New Skies and Eutelsat....
...Eutelsat's investment plan and potential listing come as rival satellite companies are also considering flotation, including Intelsat and New Skies....
...Inmarsat, New Skies Satellites and Intelsat, all owned by private equity investors, are making plans for IPOs....
...New Skies Satellites and Intelsat, two rival satellite groups that fell into private equity hands last year, have also said that they intend to pursue public listings soon....
...Recent LBOs funded with junk debt include satellite company PanAmSat, while on the horizon Zeus Holdings is planning a debt offering to fund an LBO of satellite operator Intelsat....
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