(Alliance News) - Inmarsat PLC's shares are to be delisted on Thursday, the satellite firm said on Wednesday, after a court order sanctioning its GBP3.4 billion acquisition from Connect Bidco Ltd.
The UK Registrar of Companies, which deals with all filings of UK companies, received a court notice issued on Tuesday, which authorised the scheme.
The company explained: "Inmarsat and Bidco are pleased to announce that, following the delivery of the court order to the Registrar of Companies today, the scheme has now become effective in accordance with its terms and the entire issued and to be issued share capital of Inmarsat is now owned by Bidco."
Delisting is expected to occur on Thursday morning, Inmarsat said.
By Eric Cunha; ericcunha@alliancenews.com
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