EchoStar walks away from offer for Inmarsat just before deadline
by Mark Sweney from Science | The Guardian on (#3TCQG)
Colorado-based firm's cash and shares offer valued UK rival at 3.2bn
US satellite company EchoStar has walked away from attempts to acquire Inmarsat after a second takeover bid was rejected by its UK rival.
EchoStar said it had no intention of making a formal takeover bid on Friday afternoon, after issuing a statement earlier in the day saying that its latest cash and shares offer had been rejected. Shares in Inmarsat closed down 8% at 484p.
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