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Amazon is getting deeper into the space race, on Tuesday agreeing to buy satellite-based telecom company Globalstar for around $11.6 billion.
Key facts
Globalstar shareholders can choose either $90 per share in cash, or a portion of Amazon stock whose value is capped at $90 per share
Amazon is getting deeper into the space race, on Tuesday agreeing to buy satellite-based telecom company Globalstar for around $11.6 billion — This is an effort to compete with SpaceX's Starlink, months before SpaceX is expected to launch the largest IPO ever
Summary
This is an effort to compete with SpaceX's Starlink, months before SpaceX is expected to launch the largest IPO ever. Globalstar shareholders can choose either $90 per share in cash, or a portion of Amazon stock whose value is capped at $90 per share.