VSAT - Viasat gains amid European unconditional approval for Inmarsat deal

2023-05-25 10:19:02 ET

• Viasat ( NASDAQ: VSAT ) rose 2.5% after it won European antitrust approval for its planned acquisition of satellite communications company Inmarsat.
• The European Commission "concluded that the merger would not raise competition concerns in the European Economic Area (‘EEA') or any substantial part of it," the regulator said in a statement on Thursday. The European antitrust regulator opened a n in-depth inquiry into the transaction in February.
• The European approval comes after the UK's antitrust authority approved the deal earlier this month and the U.S. Federal Communications Commission cleared the Inmarsat acquisition last Friday.
• Viasat ( VSAT ) agreed to buy Inmarsat in a transaction valued at $4 billion in cash and stock in November 2021

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