PA (earlier rec) being bought out:
Intelsat, PanAmSat in $3.2 billion deal
By MarketWatch
Last Update: 12:57 AM ET Aug. 29, 2005
SAN FRANCISCO (MarketWatch) -- Bidding to create the world's largest commercial satellite fleet, Intelsat Ltd. is expected to announce Monday that it is buying PanAmSat Holding Corp. for $3.2 billion, according to a media report.
The deal would pay PanAmSat (PA: news, chart, profile) shareholders $25 a share, about a 26% premium over the stock's Friday close of $19.80, The Wall Street Journal reported in its online edition. See Wall Street Journal story (subscription).
Bermuda-based Intelsat would have global reach, a 53-satellite fleet and ability to manage in-orbit satellites to cope with malfunctions and minimize outlays for additional launches, The Journal reported.
PanAmSat was taken private about a year ago by three buyout groups, Kohlberg Kravis Roberts & Co., Carlyle Group LLC and Providence Equity Partners Inc., that stand to make $2.25 billion on an initial investment of $550 million, The Journal said.
Cash is King until further notice!!!
My comments on companies are usually my opinion of long term success (years). The PPS may go up or down greatly in the meantime depending on the number of greedy suckers with money.
