LONDON, Dec 3 (Reuters) - Hedge fund investors in Inmarsat
said they would not object to the satellite company's
takeover by a private equity-led consortium at a court hearing
on Tuesday after the buyers said on Monday they would not
increase or extend their offer.
Oaktree, Kite Lake and Rubric Capital said they had
originally wanted Inmarsat and its buyer to revise the takeover
scheme over a contract with Ligado, a U.S. group that licenses
some of Inmarsat's airwaves.
"Having considered our position carefully, we now no longer
intend to raise objections to the Scheme being sanctioned at the
Hearing," the funds said.
A group of buyout funds, including British-based Apax
Partners, U.S.-based Warburg Pincus and the Canada Pension Plan
Investment Board (CPPIB), agreed to buy Inmarsat for $3.4
billion in March.
(Reporting by Paul Sandle; editing by Kate Holton)
