VSAT - Viasat shareholders sign off on Inmarsat acquisition; shares rise

Viasat (NASDAQ:VSAT) has received stockholder approval for its proposed acquisition of Inmarsat. After hours, Viasat (VSAT) is up 1.8%. Shareholders signed off on the deal in a special meeting Tuesday - an "important milestone," CEO Richard Baldridge said. "The overwhelming support of our shareholders confirms that this transformative combination is in the best interests of our company, shareholders, and allows for significant future growth in revenue, EBITDA and free cash flow." Viasat continues to expect the deal to close in the second half of 2022; it still needs regulatory clearances along with other closing conditions. The company came to a deal to acquire Inmarsat last November, in a transaction valued at $7.3B.

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Viasat shareholders sign off on Inmarsat acquisition; shares rise