Investment consortium Triton to take over Inmarsat

Aeronautical satellite communications specialist Inmarsat has agreed to the terms of a takeover offer by newly-established joint-venture company Triton Bidco. Triton Bidco is equally-owned by a group of four investment funds advised by Apax, Warburg Pincus, Canada Pension Plan Investment Board and Ontario Teachers’ Pension Plan Board.Inmarsat says the agreement would mean shareholders will receive $7.21 in cash per share, comprising a $7.09 cash consideration plus a final dividend of $0.12.This values the overall acquisition, comprising the entire share capital of Inmarsat, at $3.4 billion.