Why Is ViaSat Stock Up Thursday

Anusuya Lahiri
1 min read
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In this article:

  • ViaSat, Inc (NASDAQ: VSAT) stock is up Thursday after the communications company disclosed the European Commission's (EC) unconditional approval of its acquisition of mobile satellite communications services provider Inmarsat.

  • The approval follows the recent U.K. Competition & Markets Authority's clearance on May 9, 2023, and that of the U.S. Federal Communications Commission on May 19, 2023.

  • The two companies will now work to expedite the completion of the transaction, which is likely to close by the end of this month.

  • On November 8, 2021, ViaSat agreed to takeover Inmarsat for $7.3 billion, comprising $850.0 million in cash, 46.36 million shares of Viasat valued at $3.1 billion based on the closing price on Friday, November 5, 2021, and the assumption of $3.4 billion of net debt.

  • The combination will likely create a leading global communications innovator with enhanced scale and scope to affordably, securely, and reliably connect the world.

  • Price Action: VSAT shares traded higher by 2.07% at $44.33 on the last check Thursday.

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This article Why Is ViaSat Stock Up Thursday originally appeared on Benzinga.com

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