Another EchoStar Bid for Inmarsat Could Come, Citi Analyst Says
Though Inmarsat said last week it rejected a preliminary takeover offer from EchoStar, the latter is likely still interested in mergers and acquisitions and Inmarsat makes a good strategic fit, Citigroup's Jason Bazinet wrote investors Monday: That EchoStar is pursuing…
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M&A (according to Inmarsat) isn't surprising because it has repeatedly indicated an interest. The analyst said the strategic benefits for EchoStar of such a deal -- global satellite coverage, cost synergies and creation of an IoT network that uses both satellite and terrestrial spectrum -- are numerous, though financial benefits are hazier. EchoStar didn't comment.