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July 16, 2019, 3:00 a.m. EDT

UK's CMA looks at Inmarsat takeover

By Carlo Martuscelli

The U.K.'s competition watchdog said Tuesday that it has opened an investigation into the takeover of satellite group Inmarsat PLC (ISAT.LN) by a consortium of private equity and pension plan investors.

The Competition and Markets Authority said it is looking at the deal to assess whether it may result in a substantial lessening in competition, and is inviting comment from anyone potentially affected by the proposed transaction.

The British company said in March that it had accepted a $3.4 billion offer from the group of acquirers, comprising funds advised by Apax Partners and Warburg Pincus LLC, as well as the Canada Pension Plan Investment Board and Ontario Teachers' Pension Plan Board.

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