Intelsat Ltd. said Monday it agreed to acquire PanAmSat Holding Corp. for $3.2 billion in cash in a deal that would create a commercial satellite powerhouse with expanded capacity to deliver video content, corporate data and government communications services.
Privately held Intelsat, which is based in Bermuda, said it will acquire PanAmSat’s outstanding shares for $25 a share, a 26.3 percent premium over Friday’s closing price. Wilton, Conn.-based PanAmSat became a publicly traded company in March after an initial public offering priced at $18 per share.
