Amazon Agrees to Acquire Globalstar in $11.6 Billion Deal to Expand Satellite Internet Capabilities
Amazon's stock rose 3.81% following its $11.6 billion acquisition of Globalstar, aimed at bolstering its satellite internet ambitions. The deal includes a $90 per share offer, a 50% premium over Globalstar's recent stock price. The broader market also saw gains, with the S&P 500 and Nasdaq Composite rising 1.18% and 1.96%, respectively.
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Topics: Amazon Corporate Acquisition Globalstar Market Movement Satellite Internet