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VSAT - Viasat to buy RigNet in all-stock transaction
ViaSat Inc.
RigNet (RNET) inks agreement with Viasat, Pursuant to whereby Viasat (VSAT) will acquire RigNet in an all-stock transaction representing an EV of $222M, including RigNet's net debt as of Sept. 30, 2020.RigNet's board of directors and largest stockholder support transaction.RigNet stockholders to receive 0.1845 shares of Viasat stock per RigNet share, a 17.9% premium over both companies' 20-day volume-weighted average pricesTransaction expected to close by mid-calendar year 2021.