[Satellite TODAY 03-23-10] SkyTerra stockholders approved the company’s merger with a new corporation formed and indirectly owned by Harbinger Capital Partners, SkyTerra announced March 22.
    The acquisition, first announced in September, is expected to close following U.S. Federal Communications Commission approval. The merger agreement was already approved by a special committee of evaluators, which included Morgan Stanley, Skadden, Arps, Slate and Meagher & Flom.
    Harbinger’s new corporation will pay $5.00 in cash per share for each of SkyTerra¹s outstanding shares of common stock not held by Harbinger or its affiliates. The purchase price represents a premium of about 56 percent over the average closing price of SkyTerra’s common stock over a 30-day period that ended Sept. 22.

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