Intelsat in mega deal

New York, Aug. 29: Satellite companies Intelsat Ltd and PanAmSat Holding Corp said on Monday they have signed a definitive merger agreement under which Intelsat will acquire PanAmSat for $25 per share in cash, or $3.2 billion. Under the agreement, which was approved unanimously by the boards of both companies, Intelsat will acquire all outstanding common shares of PanAmSat, and additionally, Intelsat will either refinance or assume approximately $3.2 billion in debt of PanAmSat and its subsidiaries.

Aftek Infosys

Mumbai, Aug. 29: Aftek Infosys Ltd today informed the Bombay Stock Exchange that it has signed an agreement with US-based V-Soft Inc for acquiring a significant stake in the company in a phased manner.

Patents filing

New Delhi, Aug. 29: The country?s patents office has received over 17,000 applications in 2004-05, out of which 3,630 applications were filed by Indians, said commerce minister Kamal Nath.

Hutchison

New Delhi, Aug. 29: Essar Group?s joint venture firm, Hutchison, today changed the name to Hutchison Essar Ltd, the company said in a statement.

Cadila plan

Mumbai, Aug. 29: Drug company Cadila Healthcare Ltd has said it will invest Rs 40 crore to acquire a stake in an Europe-based biotech company.