Intelsat to Acquire Rival PanAmSat for $3.2 Billion

From: Mike DiMuzio (mikedimuzio001@sbcglobal.net)
Date: Mon Aug 29 2005 - 08:39:56 EDT

  • Next message: Ted Molczan: "Updated elements"

    from the Ny Times:
    
    August 29, 2005
    Intelsat to Acquire Rival PanAmSat for $3.2 Billion
    By ANDREW ROSS SORKIN and KEN BELSON
    
    Intelsat announced today that it had agreed to acquire a rival, the 
    PanAmSat Holding Corporation, creating the world's largest operator of 
    satellites that distribute data and video programming for clients.
    
    Intelsat, which is a private company, will pay $3.2 billion, or $25 a 
    share, for PanAmSat, Intelsat said. It will use cash to pay for the 
    shares, which it is buying at a price that is almost 40 percent higher 
    than the trading price just after PanAmSat's initial public offering in 
    March. On Friday, PanAmSat shares closed at $19.80, down 3 cents, on the 
    New York Stock Exchange.
    
    rest of story at
    
    http://www.nytimes.com/2005/08/29/business/29cnd-deal.html?hp&ex=1125374400&en=332c19d10666bd55&ei=5094&partner=homepage
    
    -- 
    Dr. Elizabeth Weir, "Are you alright?'
    
    Major John Sheppard, "Two arms, ten fingers.....uh, I'll check the rest later."
    
    Stargate Atlantis, Season 2
    
    
    -------------------------------------------------------------------------
    Subscribe/Unsubscribe info, Frequently Asked Questions, SeeSat-L archive:  
    http://www.satobs.org/seesat/seesatindex.html
    



    This archive was generated by hypermail 2b29 : Mon Aug 29 2005 - 08:46:23 EDT