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GHL Gains A 15 Percent Drop In Price It Will Pay For Taking Over Iridium Holdings LLC

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GHL Acquisition Corp. will pay 15 percent less than earlier agreed to buy Iridium Holdings LLC, a major satellite operator, the firms agreed. The price drop reflected changes in stock prices in the market since the original deal was created in September. Under the new price, GHL values Iridium at about $517.3 million. For further details of the new arrangement, please go to http://www.iridium.com on the Web.

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