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
For further details see:
Viasat gains amid European unconditional approval for Inmarsat deal