Terran Orbital CEO ‘taking a look at whatever’ after Lockheed Martin takeover quote

Terran Orbital CEO 'looking at everything' after Lockheed Martin takeover bid

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Satellite maker Terran Orbital is “looking at everything” relating to the business’s future, CEO Marc Bell informed CNBC, as it thinks about Lockheed Martin’ s acquisition deal.

“We learnt about [Lockheed’s takeover bid] when the remainder of the world learnt about it,” Bell stated on CNBC’s “Manifest Space” podcast.

Lockheed’s proposition sent recently worths Terran Orbital at almost $600 million, or about a 3rd of its equity evaluation from when the business went public by means of an unique function acquisition business, or SPAC, 2 years earlier. The defense giant is currently a substantial stakeholder in Terran Orbital, with a 28.3% stake at the time of the proposition.

Terran Orbital decreased to discuss an investor claim submitted Wednesday in reaction to the business’s board embracing a “poison pill” stock rights strategy after Lockheed’s deal.

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Bell stressed that Lockheed has actually been “a partner of ours for many years,” however kept in mind that Terran Orbital employed Jefferies in December to lead a tactical evaluation of its course forward, with choices varying from brand-new financiers to a possible sale of the business.

“We’ve had many conversations with many people and continue to run our process. We have no deadline to our process, and our goal is to have maximum value for all of our shareholders,” Bell stated.

Bell included that Terran Orbital is “thrilled with the validation” that Lockheed’s provide provided it.

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