{"id":64725,"date":"2018-07-06T21:33:57","date_gmt":"2018-07-06T13:33:57","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/inmarsat-on-new-echostar-bid-very-significantly-undervalued\/"},"modified":"2018-07-06T21:33:57","modified_gmt":"2018-07-06T13:33:57","slug":"inmarsat-on-new-echostar-bid-very-significantly-undervalued","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/inmarsat-on-new-echostar-bid-very-significantly-undervalued\/","title":{"rendered":"Inmarsat on New EchoStar Bid: \u201cVery Significantly Undervalued\u201d"},"content":{"rendered":"<\/p>\n<p>British mobile satellite operator <strong>Inmarsat<\/strong> has rejected a 2.45 billion pound ($3.2 billion) bid from U.S.-based satellite group <strong>EchoStar<\/strong>, stating that the offer \u201cvery significantly undervalued\u201d the company and its standalone prospects. Echostar dropped the offer minutes before the formal deadline offer of 5 p.m. Greenwich Mean Time (GMT) today.<\/p>\n<p>EchoStar\u2019s initial offer was made on June 8 for an undisclosed price. The operator then followed up with a revised bid on July 3, offering 265 pence and 0.0777 EchoStar shares per Inmarsat share \u2013 an implied 532 pence per share.<\/p>\n<p>In a research note, <strong>Jefferies<\/strong> Equity Analyst Managing Director Giles Thorne said he wasn\u2019t surprised that the revised offer was rejected. \u201c[Due to] EchoStar\u2019s evident unwillingness to bid-up in uncontested M&amp;A, we could see EchoStar turn hostile in time,\u201d Giles said.<\/p>\n<p>EchoStar is unable to bid on Inmarsat for at least another six months, according to rules established by the U.K.\u2019s Mergers and Acquisitions (M&amp;A) regulatory panel in 2011.<\/p>\n<p>The value of Inmarsat shares dropped following news of the rejected acquisition bid. Yet, Inmarsat\u2019s board remains confident in its independent strategy and prospects, \u201cgiven our track record, unique capabilities, differentiated market position, and strong channels to market,\u201d the company said in a statement. Inmarsat plans to publish its 2018 interim year results in August.<\/p>\n<p>Echostar was unable to be reached for comment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>British mobile satellite operator Inmarsat has rejected a 2.45 billion pound ($3.2 billion) bid from U.S.-based satellite group EchoStar, stating that the offer \u201cvery significantly undervalued\u201d the company and its standalone prospects. Echostar dropped the offer minutes before the formal deadline offer of 5 p.m. Greenwich Mean Time (GMT) today. EchoStar\u2019s initial offer was made [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":57638,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-64725","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/64725"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=64725"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/64725\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/57638"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=64725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=64725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=64725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}