Satellite manufacturer Terran Orbital is “looking at everything” regarding the company’s future, CEO Marc Bell told CNBC, as it considers Lockheed Martin’s acquisition offer.
“We found out about [Lockheed’s takeover bid] when the rest of the world found out about it,” Bell said on CNBC’s “Manifest Space” podcast.
Lockheed’s proposal submitted last week values Terran Orbital at nearly $600 million, or about a third of its equity valuation from when the company went public via a special purpose acquisition company, or SPAC, two years ago. The defense giant is already a significant stakeholder in Terran Orbital, with a 28.3% stake at the time of the proposal.
Terran Orbital declined to comment on a shareholder lawsuit filed Wednesday in response to the company’s board adopting a “poison pill” stock rights plan after Lockheed’s offer.
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Bell emphasized that Lockheed has been “a partner of ours for many years,”…
2024-03-08 14:16:00
Link from www.cnbc.com