PARIS — Intelsat’s $400 million purchase of Gogo’s Commercial Aviation in-flight-connectivity business while in Chapter 11 bankruptcy was like a hospital patient jumping out of bed to join a football match.
Mixing it up on the M&A field just isn’t done by a company ostensibly in financial convalescence and under the supervision of a bankruptcy judge.
Just as interesting will be to see how Intelsat, once out of Chapter 11, tailors the Gogo purchase for maximum value and minimum . . .
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