The $6bn takeover of maritime communications giant Inmarsat by a private equity consortium is set to go ahead, after a group of hedge funds looking for a better price dropped their opposition to the deal.
A group of objecting investors led by Oaktree Capital Management have pulled out of a High Court bid set for Tuesday, which would have blocked the takeover of the UK-listed satellite comms company by the Connect Bidco consortium, which has been recommended by Inmarsat's board.
