Lockheed Martin makes $1/share offer for satellite maker Terran Orbital

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Lockheed Martin makes $1/share offer for satellite maker Terran Orbital

seekingalpha03-02

U.S. defense contractor Lockheed Martin (NYSE:LMT) has made a non-binding offer to acquire all common stock of satellite maker Terran Orbital (NYSE:LLAP) that it does not own for $1/share, according ...

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joe3141
·03-04
Hmz, $1 is short changing. The share price will shoot to outer space
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The non-binding proposal consists of a $1/share cash offer for Terran's (LLAP) outstanding common stock, over $70M in cash for LLAP's outstanding warrants and assumption of $313M of LLAP's existing debt.  \"Lockheed Martin (LMT) continues to be Terran's (LLAP) largest revenue generating customer accounting for the majority of the backlog ... we are confident that we will continue to be the largest revenue generating customer for Terran (LLAP) for the foreseeable future. As a result, we are uniquely qualified to assess the Company’s near and long-term outlook and accurately ascribe fair value to Terran’s (LLAP) business for all its stakeholders,\" LMT's letter said. Boca Raton, Fla.-based Terran (LLAP) manufactures nanosatellites and microsatellites for commercial and government organizations, and also provides satellite solutions. The company last month came to an agreement with activist investors who had been pushing for the start of a strategic review and the ouster of Terran's (LLAP) top boss.  The Wall Street Journal last December said that Terran (LLAP) was looking to sell itself. The company's CEO had later denied the report, though the satellite maker had confirmed that it had started a formal review of strategic alternatives.  More on Terran Orbital and Lockheed Martin  Terran Orbital: A High-Risk Bet For Investors Willing To Embrace A Bumpy Ride Terran Orbital up 13%, shows $70M year-end cash balance Seeking Alpha’s Quant Rating on Terran Orbital Defying Odds: Why Lockheed Martin Remains A Premier Investment Choice Lockheed Martin: Problems Are Piling Up","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":280693073383504,"gmtCreate":1709558119753,"gmtModify":1709558124138,"author":{"id":"4111675977273012","authorId":"4111675977273012","name":"joe3141","avatar":"https://community-static.tradeup.com/news/a947f14f6741fc216021d0b382bd20f8","vip":1,"crmLevel":3,"crmLevelSwitch":1},"htmlText":"Hmz, $1 is short changing. The share price will shoot to outer space","listText":"Hmz, $1 is short changing. The share price will shoot to outer space","text":"Hmz, $1 is short changing. The share price will shoot to outer space","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/280693073383504","repostId":2416760653,"repostType":2,"repost":{"id":"2416760653","pubTimestamp":1709333833,"share":"https://www.laohu8.com/m/news/2416760653?lang=&edition=full","pubTime":"2024-03-02 06:57","market":"sg","language":"en","title":"Lockheed Martin makes $1/share offer for satellite maker Terran Orbital","url":"https://stock-news.laohu8.com/highlight/detail?id=2416760653","media":"seekingalpha","summary":"U.S. defense contractor Lockheed Martin (NYSE:LMT) has made a non-binding offer to acquire all common stock of satellite maker Terran Orbital (NYSE:LLAP) that it does not own for $1/share, according t","content":"<html><body><p>U.S. defense contractor Lockheed Martin (<span>NYSE:LMT</span>) has made a non-binding offer to acquire all common stock of satellite maker Terran Orbital (<span>NYSE:LLAP</span>) that it does not own for $1/share, according to a regulatory filing published on Friday.</p> <p>Shares of Terran (LLAP<span>) </span><span>rose more than 3% </span><span>to $1.11 after hours. The company has a market capitalization of about $185M.</span></p> <p>Lockheed (LMT) already owns a 28.3% stake in Terran (LLAP), and the company is a major customer in terms of revenue for the satellite maker. </p> <p>\"Terran (LLAP) represents an attractive opportunity for Lockheed Martin (LMT), and we are treating the potential Transaction as a strategic priority. Terran’s superior capabilities and business momentum align with one of Lockheed Martin Space’s strategic growth priorities and the Transaction would accelerate that strategy,\" Scott Weiner, Lockheed's (LMT) <a href=\"https://laohu8.com/S/VP..UK\">VP</a> of corporate development, said in a letter to Terran (LLAP).</p> <p>The non-binding proposal consists of a $1/share cash offer for Terran's (LLAP) outstanding common stock, over $70M in cash for LLAP's outstanding warrants and assumption of $313M of LLAP's existing debt. </p> <p>\"Lockheed Martin (LMT) continues to be Terran's (LLAP) largest revenue generating customer accounting for the majority of the backlog ... we are confident that we will continue to be the largest revenue generating customer for Terran (LLAP) for the foreseeable future. As a result, we are uniquely qualified to assess the Company’s near and long-term outlook and accurately ascribe fair value to Terran’s (LLAP) business for all its stakeholders,\" LMT's letter said.</p> <p>Boca Raton, Fla.-based Terran (LLAP) manufactures nanosatellites and microsatellites for commercial and government organizations, and also provides satellite solutions. The company last month came to an agreement with activist investors who had been pushing for the start of a strategic review and the ouster of Terran's (LLAP) top boss. </p> <p>The Wall Street Journal last December said that Terran (LLAP) was looking to sell itself. The company's CEO had later denied the report, though the satellite maker had confirmed that it had started a formal review of strategic alternatives. </p> <h2>More on Terran Orbital and Lockheed Martin</h2> <ul> <li>Terran Orbital: A High-Risk Bet For Investors Willing To Embrace A Bumpy Ride</li> <li>Terran Orbital up 13%, shows $70M year-end cash balance</li> <li>Seeking Alpha’s Quant Rating on Terran Orbital</li> <li>Defying Odds: Why Lockheed Martin Remains A Premier Investment Choice</li> <li>Lockheed Martin: Problems Are Piling Up</li> </ul></body></html>","source":"seekingalpha_hot_news","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Lockheed Martin makes $1/share offer for satellite maker Terran Orbital</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLockheed Martin makes $1/share offer for satellite maker Terran Orbital\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-02 06:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4074952-lockheed-martin-makes-1share-offer-for-satellite-maker-terran-orbital><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>U.S. defense contractor Lockheed Martin (NYSE:LMT) has made a non-binding offer to acquire all common stock of satellite maker Terran Orbital (NYSE:LLAP) that it does not own for $1/share, according ...</p>\n\n<a href=\"https://seekingalpha.com/news/4074952-lockheed-martin-makes-1share-offer-for-satellite-maker-terran-orbital\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1297862142/image_1297862142.jpg","relate_stocks":{"LLAP":"Terran Orbital Corp","LU1244550577.SGD":"FTIF - Franklin Global Multi-Asset Income A (Mdis) SGD-H1","BK4516":"特朗普概念","BK4588":"碎股","BK4564":"太空概念","LU1244550494.USD":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) ACC","BK4187":"航天航空与国防","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","BK4585":"ETF&股票定投概念","LMT":"洛克希德马丁","LU1244550221.USD":"FRANKLIN GLOBAL MULTI-ASSET  INCOME \"A\" (USDHEDGED) INC (M)","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC"},"source_url":"https://seekingalpha.com/news/4074952-lockheed-martin-makes-1share-offer-for-satellite-maker-terran-orbital","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2416760653","content_text":"U.S. defense contractor Lockheed Martin (NYSE:LMT) has made a non-binding offer to acquire all common stock of satellite maker Terran Orbital (NYSE:LLAP) that it does not own for $1/share, according to a regulatory filing published on Friday. Shares of Terran (LLAP) rose more than 3% to $1.11 after hours. The company has a market capitalization of about $185M. Lockheed (LMT) already owns a 28.3% stake in Terran (LLAP), and the company is a major customer in terms of revenue for the satellite maker.  \"Terran (LLAP) represents an attractive opportunity for Lockheed Martin (LMT), and we are treating the potential Transaction as a strategic priority. Terran’s superior capabilities and business momentum align with one of Lockheed Martin Space’s strategic growth priorities and the Transaction would accelerate that strategy,\" Scott Weiner, Lockheed's (LMT) VP of corporate development, said in a letter to Terran (LLAP). The non-binding proposal consists of a $1/share cash offer for Terran's (LLAP) outstanding common stock, over $70M in cash for LLAP's outstanding warrants and assumption of $313M of LLAP's existing debt.  \"Lockheed Martin (LMT) continues to be Terran's (LLAP) largest revenue generating customer accounting for the majority of the backlog ... we are confident that we will continue to be the largest revenue generating customer for Terran (LLAP) for the foreseeable future. As a result, we are uniquely qualified to assess the Company’s near and long-term outlook and accurately ascribe fair value to Terran’s (LLAP) business for all its stakeholders,\" LMT's letter said. Boca Raton, Fla.-based Terran (LLAP) manufactures nanosatellites and microsatellites for commercial and government organizations, and also provides satellite solutions. The company last month came to an agreement with activist investors who had been pushing for the start of a strategic review and the ouster of Terran's (LLAP) top boss.  The Wall Street Journal last December said that Terran (LLAP) was looking to sell itself. The company's CEO had later denied the report, though the satellite maker had confirmed that it had started a formal review of strategic alternatives.  More on Terran Orbital and Lockheed Martin  Terran Orbital: A High-Risk Bet For Investors Willing To Embrace A Bumpy Ride Terran Orbital up 13%, shows $70M year-end cash balance Seeking Alpha’s Quant Rating on Terran Orbital Defying Odds: Why Lockheed Martin Remains A Premier Investment Choice Lockheed Martin: Problems Are Piling Up","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":1,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}