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Inmarsat (ISAT)
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- Lemon Slice
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Inmarsat (ISAT)
Inmarsat says an offer for the company is being discussed but there is no guarantee the discussions will lead to a formal offer. If an offer is to be made it needs to be tabled by 16th April.
https://uk.reuters.com/article/uk-inmar ... KKCN1R02GN
Best wishes,
Steve
https://uk.reuters.com/article/uk-inmar ... KKCN1R02GN
Best wishes,
Steve
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- Lemon Half
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Re: Inmarsat (ISAT)
The RNS may be found here:
https://www.londonstockexchange.com/exc ... 08130.html
Extract only:
Statement re possible offer for Inmarsat from Apax, Warburg Pincus, CPPIB and OTPP
The Board of Inmarsat plc ("Inmarsat" or the "Company") 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 LLP ("Apax"), Warburg Pincus International LLC ("Warburg Pincus"), and Canada Pension Plan Investment Board ("CPPIB") regarding a possible cash offer of US$7.21 per Inmarsat share for the entire issued, and to be issued, share capital of Inmarsat. ...
In accordance with Rule 2.6(a) of the Code, the Consortium is required, by not later than 5.00 p.m. (London time) on 16 April 2019, being 28 days after today's date, to either announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Takeover Panel (the "Panel") in accordance with Rule 2.6(c) of the Code. ...
https://www.londonstockexchange.com/exc ... 08130.html
Extract only:
Statement re possible offer for Inmarsat from Apax, Warburg Pincus, CPPIB and OTPP
The Board of Inmarsat plc ("Inmarsat" or the "Company") 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 LLP ("Apax"), Warburg Pincus International LLC ("Warburg Pincus"), and Canada Pension Plan Investment Board ("CPPIB") regarding a possible cash offer of US$7.21 per Inmarsat share for the entire issued, and to be issued, share capital of Inmarsat. ...
In accordance with Rule 2.6(a) of the Code, the Consortium is required, by not later than 5.00 p.m. (London time) on 16 April 2019, being 28 days after today's date, to either announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Takeover Panel (the "Panel") in accordance with Rule 2.6(c) of the Code. ...
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- 2 Lemon pips
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Re: Inmarsat (ISAT)
Steveam wrote:Inmarsat says an offer for the company is being discussed but there is no guarantee the discussions will lead to a formal offer. If an offer is to be made it needs to be tabled by 16th April.
https://uk.reuters.com/article/uk-inmar ... KKCN1R02GN
Best wishes,
Steve
This is a company that’s been on my sell list since it cut the dividend. Hedging my bets I sold half this morning as it was split across two accounts. A firm offer may come to pass, we’ll see...
The cash will either go into VWRL or an IT. Not one of my best picks.
Wasron
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- Lemon Slice
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Re: Inmarsat (ISAT)
$7-21 confirmed offer ...
https://investors.inmarsat.com/wp-conte ... h-2019.pdf
I got this one wrong ... oh well, a loss for next year’s CGT call
Best wishes,
Steve
https://investors.inmarsat.com/wp-conte ... h-2019.pdf
I got this one wrong ... oh well, a loss for next year’s CGT call
Best wishes,
Steve
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- 2 Lemon pips
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Re: Inmarsat (ISAT)
Steveam wrote:
I got this one wrong ... oh well, a loss for next year’s CGT call
Best wishes,
Steve
I can’t help but feel a bit cheated; ISAT had just spent years building an amazing system for global connectivity that is now being bought for a song, just at the point where the long term investments in the tech were starting to bear fruit.
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- Lemon Slice
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Re: Inmarsat (ISAT)
Yeah, I bought them as an alternative in the telecomms sector to topping up Vodafone, on the basis that they had a near monopoly of the shipping geolocation market (can't get a bigger moat than the sea!) and the prospect of the airline internet market. Lost the first and their investment in the second is going cheap. I'll "escape" with about a 26% loss but would rather have toughed it out for the long term potential.
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- The full Lemon
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Re: Inmarsat (ISAT)
Agree, I'd rather hang on. Don't we get a shareholder vote?
Current price is a small capital gain on top of a good income stream over several years. But could be much better than that!
Current price is a small capital gain on top of a good income stream over several years. But could be much better than that!
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- Lemon Quarter
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Re: Inmarsat (ISAT)
DAK when the shareholders will receive the proceeds? I've had a search but can't seem to find it.
RC
RC
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- Lemon Slice
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