Viasat has confirmed that it has received the necessary stockholder approvals for its proposed $7.3 billion acquisition of Inmarsat, following a Special Meeting of Stockholders.
Viasat says that it expects the deal, announced in November 2021, to close in the second half of 2022, subject to the receipt of regulatory approvals and clearances and other customary closing conditions being met.
“This approval is an important milestone as we move closer to completing our acquisition of Inmarsat,” said Richard Baldridge, President & Chief Executive Officer.
“The overwhelming support of our shareholders confirms that this transformative combination is in the best interests of our company, shareholders, and allows for significant future growth in revenue, EBITDA and free cash flow.”
“The combination of our unique teams, technologies, and resources will provide an incredible foundation to advance broadband communications and drive greater performance, reliability, and value for our customers. We are excited about what the future holds and look forward to the opportunities ahead.”
The two firms took steps toward clearing one potential regulatory hurdle earlier this year after agreeing on a package of legally-binding measures with the UK government relating to jobs, R&D investment and satellite ownership being maintained in Inmarsat’s home country following the deal, which included confirmation that the global business headquarters of the combined company would remain in London.