Viasat’s acquirement of Inmarsat is moving forward. Firm executives say, “in spite of ongoing work in order to secure approval from the British government. This is along with a drop in share price that has cut a billion dollars from the value of the contract.
Viasat announces on 8th November that it is obtaining Inmarsat in a contract worth $7.3 billion in –
- Assumption of debt
The firms say at the time that they expect the deal to close in the second half of 2022, awaiting regulatory approvals.
In a 14th December appearance by video at Euroconsult’s World Satellite Business Week here, Rajeev Suri sticks to the same schedule. Rajeev is the chief executive of Inmarsat. He says, “We maintain the course for a successful contract close by mid next year.”
About Viasat-Inmarsat by Rajeev Suri –
- The contract is not a threat by the sharp drop in the price of the stock.
- At the time of the declaration, the Viasat stock includes in the deal value of $3.1 billion. This is on the basis of a share price of $67 per share.
- Though, Viasat shares have fallen significantly since then, closing down 17% the day the procurement made the announcement.
- Shares on 14th December close at $44.55 per share, lowering the value of the stock by nearly $1 billion.
Mark Dankberg is the chairman of Viasat. He offers a similar evaluation during another conference panel on 13th December. Mark says, “following a major transaction, normally the first response is that the share price falls.” The firm is working to give investors more data about “why it is a good deal.”
Jean-Marc Nasr is the executive vice president of space systems at Airbus. Jean-Marc says in an interview on 14th December, “for other operators, it will generate some reasoning about their strategy. This is creating a huge operative.”
The contract is “a good step” toward tackling concerns about disintegration and scale among operators, says Steve Collar. Steve is chief executive of SES. He says, “I doubt that it will be the last.”