The Committee on Foreign Investment in the U.S. green lit Connect Bidco Ltd.'s acquisition of Inmarsat PLC for $3.4 billion, stating that the deal has no unresolved national security issues.
In addition, the U.S. Department of Homeland Security, the U.S. Department of Justice and the U.S. Department of Defense do not object to the U.S. Federal Communications Commission approving the deal.
The parties remain confident that the deal will be completed during the fourth quarter and stated they will "continue to work constructively" with relevant authorities to meet required conditions.
Connect Bidco is a joint venture formed by a consortium that includes private equity firms Apax Partners LLP, Warburg Pincus International LLC, Canada Pension Plan Investment Board and Ontario Teachers' Pension Plan Board.
