Satellite tv for pc producer Terran Orbital is “taking a look at the whole lot” relating to the corporate’s future, CEO Marc Bell informed CNBC, because it considers Lockheed Martin’s acquisition provide.
“We came upon about [Lockheed’s takeover bid] when the remainder of the world came upon about it,” Bell mentioned on CNBC’s “Manifest House” podcast.
Lockheed’s proposal submitted final week values Terran Orbital at almost $600 million, or a couple of third of its fairness valuation from when the corporate went public through a particular goal acquisition firm, or SPAC, two years in the past. The protection big is already a major stakeholder in Terran Orbital, with a 28.3% stake on the time of the proposal.
Terran Orbital declined to touch upon a shareholder lawsuit filed Wednesday in response to the corporate’s board adopting a “poison tablet” inventory rights plan after Lockheed’s provide.
Join right here to obtain weekly editions of CNBC’s Investing in House publication.
Bell emphasised that Lockheed has been “a companion of ours for a few years,” however famous that Terran Orbital employed Jefferies in December to guide a strategic overview of its path ahead, with choices starting from new traders to a possible sale of the corporate.
“We have had many conversations with many individuals and proceed to run our course of. We now have no deadline to our course of, and our aim is to have most worth for all of our shareholders,” Bell mentioned.
Bell added that Terran Orbital is “thrilled with the validation” that Lockheed’s provide gave it.