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Byline: Jonathan Braude in London
Global satellite operator Inmarsat Ventures plc said Wednesday, Sept. 17, it is in exclusive negotiations with Apax Partners Worldwide LLP and Permira Advisers Ltd. on a joint offer by the buyout firms.
The announcement gave no further details on price or any indication of a deadline for the discussions to finalize the terms of the offer, and neither Inmarsat nor the two bidders were prepared to comment.
The U.K. media have reported for weeks, however, that the price would be around $1.5 billion, and the Financial Times reported Wednesday that Apax and Permira had extended an indicative bid of $14.25 a share, or $1.425 million.
New York-based …