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By BLOOMBERG NEWS | February 25, 1997
NEW YORK -- Loral Space & Communications Ltd. agreed yesterday to buy out its European partners in Space Systems/Loral for $374 million, part of Chairman Bernard Schwartz's vision to create a global satellite communications company.Loral will buy the remaining 49 percent of Space Systems/Loral from Aerospatiale, Alcatel Espace, Alenia Spazio SpA and Daimler-Benz Aerospace AG for cash and Loral stock. The companies will receive a combined stake in Loral Space & Communications of about 6 percent.
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BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | September 4, 1999
In a filing to federal regulators yesterday, Lockheed Martin Corp. revealed a potential hitch in its plan to acquire Bethesda neighbor Comsat Corp.The trouble centers on Lockheed Martin's relationship with Loral Space & Communications Ltd., in which it holds a 14 percent stake.To allay antitrust concerns about its ownership of shares of two satellite communications companies, Lockheed was willing to enter a consent order on the terms of its sale of its Loral shares.However, Lockheed said its entry into such a consent order was contingent on getting assurances from Loral on the conditions of the divestiture.
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BUSINESS
By Michael Dresser and Michael Dresser,SUN STAFF | January 10, 1996
Lockheed Martin Corp.'s $9.1 billion acquisition of Loral Corp.'s defense electronics business was a blockbuster deal by anyone's standards, but the most intriguing aspect of the deal could be the part of Loral that got away.As part of the agreement, Loral's holdings in the risky but potentially lucrative satellite communications business were split off into a new company called Loral Space and Communications Corp.Bethesda-based Lockheed Martin came away with a 20 percent stake in the new corporation, at a cost of $344 million.
BUSINESS
By BLOOMBERG NEWS | May 13, 1999
WASHINGTON -- Lockheed Martin Corp. has negotiated terms of an antitrust agreement with the U.S. Department of Justice that could help the company move ahead with its proposed $3.2 billion acquisition of Comsat Corp.The most significant provision would require Lockheed Martin, the world's second-largest aerospace company, to sell its 14 percent stake in another satellite company, New York-based Loral Space & Communications Ltd.That requirement should not be a stumbling block: Bethesda-based Lockheed Martin said in September that it would consider selling its Loral shares to raise money for the Comsat acquisition.
BUSINESS
By BLOOMBERG NEWS | October 8, 1997
NEW YORK -- Loral Space & Communications Ltd. yesterday agreed to buy Orion Network Systems Inc. for about $490 million in stock, expanding its satellite services into new markets.Rockville-based Orion owns and operates the Orion 1 satellite, which covers European, trans-Atlantic and U.S. markets, and has two more satellites under construction. The company provides video communications and other services to about 260 multinational businesses and Internet-service providers in 47 countries.
BUSINESS
By Ted Shelsby and Ted Shelsby,SUN STAFF Bloomberg Business News contributed to this article | April 19, 1996
The Federal Trade Commission yesterday approved Bethesda-based Lockheed Martin Corp.'s $9.1 billion acquisition of the bulk of Loral Corp. after Lockheed agreed to certain restrictions intended to ensure fair competition.FTC commissioners voted 5-0 in favor of the acquisition of the New York company that is the nation's fifth largest defense contractor.The restrictions to which Lockheed agreed address the government's concerns that the purchase might violate antitrust laws by reducing competition for satellites, fighter aircraft and other military projects.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | September 4, 1999
In a filing to federal regulators yesterday, Lockheed Martin Corp. revealed a potential hitch in its plan to acquire Bethesda neighbor Comsat Corp.The trouble centers on Lockheed Martin's relationship with Loral Space & Communications Ltd., in which it holds a 14 percent stake.To allay antitrust concerns about its ownership of shares of two satellite communications companies, Lockheed was willing to enter a consent order on the terms of its sale of its Loral shares.However, Lockheed said its entry into such a consent order was contingent on getting assurances from Loral on the conditions of the divestiture.
NEWS
July 4, 1997
FIVE OR SIX YEARS from now a traveler in a log boat on the Amazon may be able to punch up an Australian web site on his portable computer, leave an e-mail message at his New York office and check his bank balance in London. Two Seattle companies, Teledesic and aerospace giant Boeing Co., are teaming up to develop a network of low-orbiting satellites to make such easy communications on the global Internet a reality. Others are developing similar systems.A few years ago, futurists spoke convincingly about the "wiring" of a world in which telephones, televisions and computers would all be linked by global networks of fiber optic and coaxial cables.
BUSINESS
By Ted Shelsby and Ted Shelsby,SUN STAFF | April 23, 1996
WASHINGTON -- Lockheed Martin Corp. will close on its $9.1 billion acquisition of the bulk of Loral Corp. early this morning, Norman R. Augustine, president and chief executive of the Bethesda-based defense and aerospace giant, said yesterday.Speaking at the National Press Club, Mr. Augustine expressed confidence that Lockheed Martin would obtain the two-thirds of Loral shares required to make the acquisition final.The satellite business of New York-based Loral is not a part of the acquisition.
BUSINESS
By BLOOMBERG NEWS | May 13, 1999
WASHINGTON -- Lockheed Martin Corp. has negotiated terms of an antitrust agreement with the U.S. Department of Justice that could help the company move ahead with its proposed $3.2 billion acquisition of Comsat Corp.The most significant provision would require Lockheed Martin, the world's second-largest aerospace company, to sell its 14 percent stake in another satellite company, New York-based Loral Space & Communications Ltd.That requirement should not be a stumbling block: Bethesda-based Lockheed Martin said in September that it would consider selling its Loral shares to raise money for the Comsat acquisition.
BUSINESS
By BLOOMBERG NEWS | January 31, 1998
NEW YORK -- U.S. stocks fell on concern that profit growth will slow as Asia's financial crisis takes a bite out of U.S. economic growth in months to come.The Dow Jones industrial average declined for the first time this week, losing 66.52 to close at 7,906.50. International Paper Co. -- and General Motors Corp., which do best when the economy is picking up, were among the biggest losers.Concern that Asia will be a drag on the U.S. economy took the steam out of a rally that sent the Dow industrials up 272 points in the first four days of the week and carried the Standard & Poor's 500 index Thursday to its first record since Dec. 5.GM fell $2.1875 to $57.9375 yesterday, and International Paper lost $2 to $45.6875.
BUSINESS
By BLOOMBERG NEWS | October 8, 1997
NEW YORK -- Loral Space & Communications Ltd. yesterday agreed to buy Orion Network Systems Inc. for about $490 million in stock, expanding its satellite services into new markets.Rockville-based Orion owns and operates the Orion 1 satellite, which covers European, trans-Atlantic and U.S. markets, and has two more satellites under construction. The company provides video communications and other services to about 260 multinational businesses and Internet-service providers in 47 countries.
NEWS
July 4, 1997
FIVE OR SIX YEARS from now a traveler in a log boat on the Amazon may be able to punch up an Australian web site on his portable computer, leave an e-mail message at his New York office and check his bank balance in London. Two Seattle companies, Teledesic and aerospace giant Boeing Co., are teaming up to develop a network of low-orbiting satellites to make such easy communications on the global Internet a reality. Others are developing similar systems.A few years ago, futurists spoke convincingly about the "wiring" of a world in which telephones, televisions and computers would all be linked by global networks of fiber optic and coaxial cables.
BUSINESS
By BLOOMBERG NEWS | February 25, 1997
NEW YORK -- Loral Space & Communications Ltd. agreed yesterday to buy out its European partners in Space Systems/Loral for $374 million, part of Chairman Bernard Schwartz's vision to create a global satellite communications company.Loral will buy the remaining 49 percent of Space Systems/Loral from Aerospatiale, Alcatel Espace, Alenia Spazio SpA and Daimler-Benz Aerospace AG for cash and Loral stock. The companies will receive a combined stake in Loral Space & Communications of about 6 percent.
BUSINESS
By Ted Shelsby and Ted Shelsby,SUN STAFF | April 26, 1996
NEW YORK -- Lockheed Martin Corp. may sell its jetliner thrust reverser business in Middle River to help reduce the debt incurred from its recent $9.1 billion acquisition of Loral Corp., a top company official said yesterday.Meeting with reporters after the company's annual stockholders session, Norman R. Augustine, president and chief executive, said the world's largest defense and aerospace company will probably make some divestitures within the next year or two.Mr. Augustine said a company task force is looking at possible divestitures, and at one time there was a long list that included many parts of the company.
BUSINESS
By Ted Shelsby and Ted Shelsby,SUN STAFF | April 23, 1996
WASHINGTON -- Lockheed Martin Corp. will close on its $9.1 billion acquisition of the bulk of Loral Corp. early this morning, Norman R. Augustine, president and chief executive of the Bethesda-based defense and aerospace giant, said yesterday.Speaking at the National Press Club, Mr. Augustine expressed confidence that Lockheed Martin would obtain the two-thirds of Loral shares required to make the acquisition final.The satellite business of New York-based Loral is not a part of the acquisition.
BUSINESS
By Ted Shelsby and Ted Shelsby,SUN STAFF | April 26, 1996
NEW YORK -- Lockheed Martin Corp. may sell its jetliner thrust reverser business in Middle River to help reduce the debt incurred from its recent $9.1 billion acquisition of Loral Corp., a top company official said yesterday.Meeting with reporters after the company's annual stockholders session, Norman R. Augustine, president and chief executive, said the world's largest defense and aerospace company will probably make some divestitures within the next year or two.Mr. Augustine said a company task force is looking at possible divestitures, and at one time there was a long list that included many parts of the company.
NEWS
By Ted Shelsby and Ted Shelsby,SUN STAFF | January 9, 1996
The rapidly shrinking defense industry was rocked again yesterday when the Lockheed Martin Corp. announced that it will acquire the bulk of Loral Corp., the nation's fifth-largest defense contractor, for $9.1 billion.The move comes nine months after Martin Marietta Corp. merged with Lockheed Corp. to form the nation's largest defense and aerospace company, and five days after Northrop Grumman Corp. agreed to buy the Linthicum-based defense electronics arm of Westinghouse Electric Corp. for $3.6 billion.
BUSINESS
By Ted Shelsby and Ted Shelsby,SUN STAFF Bloomberg Business News contributed to this article | April 19, 1996
The Federal Trade Commission yesterday approved Bethesda-based Lockheed Martin Corp.'s $9.1 billion acquisition of the bulk of Loral Corp. after Lockheed agreed to certain restrictions intended to ensure fair competition.FTC commissioners voted 5-0 in favor of the acquisition of the New York company that is the nation's fifth largest defense contractor.The restrictions to which Lockheed agreed address the government's concerns that the purchase might violate antitrust laws by reducing competition for satellites, fighter aircraft and other military projects.
BUSINESS
By Michael Dresser and Michael Dresser,SUN STAFF | January 10, 1996
Lockheed Martin Corp.'s $9.1 billion acquisition of Loral Corp.'s defense electronics business was a blockbuster deal by anyone's standards, but the most intriguing aspect of the deal could be the part of Loral that got away.As part of the agreement, Loral's holdings in the risky but potentially lucrative satellite communications business were split off into a new company called Loral Space and Communications Corp.Bethesda-based Lockheed Martin came away with a 20 percent stake in the new corporation, at a cost of $344 million.
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