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Shares In Inmarsat Jump On Fresh Bid Approach

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Shares in Inmarsat Plc jumped 17 percent on Wednesday after the British satellite operator said it was in talks about a $3.3 billion cash offer from a private equity-led consortium, opening up the possibility of a bidding war. The consortium, which initially included UK-based Apax Partners, U.S.-based Warburg Pincus and Canada Pension Plan Investment Board (CPPIB), was later also joined by Ontario Teachers' Pension Plan Board, Inmarsat said. The January 31 approach came six months after Inmarsat rebuffed a $3.25 billion cash and shares bid from U.S. satellite group EchoStar.

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