Finance / United States
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Greenhill SPAC Acquires Iridium
September 2008 | M&A News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Satellite phone provider Iridium Holdings has agreed to be acquired by GHL Acquisition, an Amex-listed special purpose acquisition vehicle (SPAC) affiliated with boutique investment bank Greenhill and Co. The US$591mn deal will enable Iridium, which raised billions during the 90's before filing for chapter 11 protection in 1999, to be debt free, public and in a strong position to develop the next generation of its namesake satellite system.