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Intelsat, PanAmSat to Merge

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PEMBROKE, Bermuda and WILTON, Conn., Aug. 29 -- Global communications provider Intelsat Ltd. and PanAmSat Holding Corp., a video, broadcasting and network distribution provider, today announced that the two companies have signed a definitive merger agreement under which Bermuda-based Intelsat will acquire PanAmSat for $25 per share in cash, or $3.2 billion. Officials say the transaction, which will take six to 12 months, will create a satellite company that will serve customers in more than 220 countries and territories using a combined fleet of 53 satellites.    David McGlade, CEO of...Read full article

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    Published: August 2005
    CommunicationsIntelsatMcGlademergersNews & FeaturesPanAmSatsatelliteWright

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