Activist investor Carronade Capital Management urged Viasat to split its defense business as part of the satellite communications firm's ongoing strategic review. Carronade — which holds a 2.6 per cent stake in the satellite communications firm — in an open letter to shareholders on Thursday called for either a spin-off or an IPO of the defense and advanced technologies (DAT) business, which it said is alone worth $50 per share. The split could result in Viasat's shares trading at a range of $