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Centerbridge reaches tentative deal for LightSquared

2013-12-16 01:00:00| Total Telecom industry news

Sources claim private equity firm set to spoil Dish's plan with $3.3 billion bid.

Tags: deal reaches tentative tentative deal

 

Centerbridge Said to Pursue $3.3 Billion LightSquared Purchase

2013-12-12 10:21:48| Agriculture - Topix.net

Centerbridge Partners LP, a New York-based private-equity firm, is teaming up with Phil Falcone's Harbinger Capital Partners and Fortress Investment Group LLC to acquire LightSquared Inc. for $3.3 billion, according to a person familiar with matter.

Tags: purchase billion pursue centerbridge

 
 

Centerbridge Partners near deal to buy LightSquared - report

2013-12-12 09:03:00| Telecompaper Headlines

(Telecompaper) Private-equity firm Centerbridge Partners has reached a tentative deal to buy LightSquared out of bankruptcy proceedings, people familiar with the matter told the Wall Street Journal. Centerbridge proposed paying roughly USD 3.3 billion for the wireless venture backed by financier Philip Falcone and assuming about USD 1.7 billion in various liabilities. The deal would be executed under a bankruptcy-reorganization plan, some of the sources said. Satellite TV group Dish Network earlier this year bid USD 2.2 billion for LightSquared. This was to serve as the opening offer for a bankruptcy auction scheduled 11 December, but the auction was canceled at the last minute. Fortress Investment Group also planned to make an offer for LightSquared but withdrew the bid 11 December, people familiar with the matter said. Fortress has been a LightSquared investor and now backs Centerbridge's plan, some of the people said.

Tags: report buy partners deal

 

Judge allows most of LightSquared suit vs Dish, Ergen

2013-12-11 01:00:00| Total Telecom industry news

Would-be LTE wholesaler allowed to pursue claim that Ergen purchased LightSquared debt on behalf of Dish rather than himself.

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Falcone, Harbinger join LightSquared in urging judge to allow Dish suit

2013-12-10 01:00:00| Total Telecom industry news

Hearing on suit dismissal set to take place on Tuesday.

Tags: join suit judge dish

 

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