The Washingtom Post – Reston-based satellite firm SkyTerra said Wednesday that it has agreed to be acquired by its biggest shareholder in a roughly $280 million transaction that will return the company to private ownership.
Under the deal, New York-based investment firm Harbinger Capital Partners will pay $5 per common share of SkyTerra — a 56 percent premium over the stock’s average price in the month before the announcement. SkyTerra shares gained more than 38 percent on Wednesday, closing at $4.71.
