• Intelsat and PanAmSat Agree to Merge
  • October 24, 2005 | Authors: William T. Lake; John H. Harwood; David S. Mendel
  • Law Firm: Wilmer Cutler Pickering Hale and Dorr LLP - Washington Office
  • On August 29, 2005, Intelsat, Ltd. (Intelsat), the second largest commercial satellite company (in revenues), announced that it would acquire PanAmSat Holding Corporation (PanAmSat), the third largest, for $25 per share in cash, or $3.2 billion. The merger, if approved by regulators, would result in a combined fleet of 53 satellites serving customers in more than 220 countries and territories. It would be another major step toward consolidation in an industry recently challenged by overcapacity problems and intermodal competition from transoceanic cable companies.