Inmarsat Rejects Improved Proposal Made By EchoStar - Quick Facts

(RTTNews) - Echostar Corp. (SATS) announced that, on 3 July 2018, the company presented a new and improved proposal to the board of Inmarsat which was rejected by Inmarsat on 4 July 2018. Under the terms of the improved proposal, Inmarsat shareholders would be entitled to receive 265 pence in cash and 0.0777 new shares of EchoStar class A common stock for each Inmarsat share. The improved proposal implies an equivalent value of 532 pence per Inmarsat share, valuing Inmarsat's existing issued share capital at approximately 2.45 billion pounds. The improved proposal would represent in aggregate, a value of approximately 3.2 billion pounds for the issued and to be issued share capital of Inmarsat and the Convertible Bonds.

EchoStar said it continues to seek engagement with the board of Inmarsat on a constructive basis.