by CIO Staff

Intelsat-PanAmSat Merger Cleared by DoJ

May 26, 20061 min
Mergers and Acquisitions

Intelsat, a provider of satellite voice, data and Internet services, on Friday said the Department of Justice (DoJ) will not set conditions on its merger with PanAmSat and will close its current antitrust proceedings related to the deal, Reuters reports via The Washington Post.

The acquisition is still being looked into by the Federal Communications Commission, but should it be cleared there as well, Intelsat will buy PanAmSat for $3.2 billion, or $25 per share, according to Reuters.

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