MergerApr 14, 2026, 12:50 PM
Amazon to Acquire Globalstar in Merger Agreement
AI Summary
Globalstar, Inc. announced it has entered into a definitive Merger Agreement with Amazon.com, Inc. on April 13, 2026. The transaction involves a two-step merger process, ultimately resulting in Globalstar becoming a direct wholly-owned subsidiary of Amazon. The companies intend for the merger to qualify as a tax-free reorganization under Section 368(a) of the Code, and Globalstar's independent committees unanimously approved the deal.
Key Highlights
- Globalstar entered a Merger Agreement with Amazon.com, Inc. on April 13, 2026.
- The transaction involves a two-step merger, making Globalstar a wholly-owned subsidiary of Amazon.
- The parties intend for the merger to qualify as a reorganization under Section 368(a) of the Code.
- Globalstar's Strategic Review Committee and Special Committee unanimously approved the merger.