VSAT - Viasat planned Inmarsat acquisition of Inmarsat said to face UK govt opposition

Viasat's (NASDAQ:VSAT) planned more than $7B purchase of Inmarsat  is said to be facing obstacles with UK approval for the deal.  Viasat has pledged to create jobs with the transaction and to keep Inmarsat's headquarters in the UK, though government sees the promises as too "superficial" and wants more firm commitments, according to a Daily Mail report. Viasat (VSAT) agreed to acquire Inmarsat in November in a transaction valued at $7.3 billion, comprised of $850.0M in cash, ~46.36 million shares of Viasat common stock valued at $3.1 billion at the time and the assumption of $3.4B of net debt. One source close to the company told the newspaper on Friday night that there had been a breakthrough in recent talks with the government, though another "Whitehall" source said no such breakthrough had occurred.  Viasat CEO Rick Baldridge said on the company's Q4 earnings call earlier this month that the company is "progressing well" on the regulatory

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Viasat planned Inmarsat acquisition of Inmarsat said to face UK govt opposition