Satellite group Inmarsat bought

Inmarsat has agreed to be taken over by a consortium of private equity firms including Apax and Warburg Pincus in a £2.6 billion deal. Under terms announced yesterday, the satellite communications group will be sold for cash at $7.21 a share. As well as UK group Apax and Usbased Warburg Pincus, the consortium also includes the Canada Pension Plan Investment Board.