Viasat Spikes on Report Carronade Urging Defense Unit Split (1)

(Adds stock move in headline, second sentence)

Carronade Capital Management is issuing an open letter to shareholders publicly calling for Viasat to split off its defense unit, the Financial Times reports, citing people familiar with the matter. Shares of the satellite-internet provider jumped as much as 11% to a 10-month intraday high before paring to up 2.6%.

• Carronade has built a 2.3% equity stake in Viasat and is continuing to add
  • It also holds $30m in the company’s debt, the people told the FT
• Viasat did not immediately respond to a request for comment: FT

--With assistance from Jeremy R. ...