Mike Arnold
Long only, small-cap, tech, growth at reasonable price

Loral Liquidation Looms

Executive summary:

  • News reports over the last month suggest that a value unlocking transaction for Loral (NASDAQ:LORL) is knocking on the door.
  • A key catalyst includes the upcoming patent damages trial (March 25 start date) with ViaSat (NASDAQ:VSAT). Resolution of the ViaSat matter would facilitate a Loral transaction by reducing uncertainty around legal obligations.
  • Multiple bidders appear to be interested in Loral's principal asset, a 62.8% stake in Telesat.

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Loral remains tasty investment fare for value-oriented, event-driven investors. While the shares have enjoyed a terrific run over the last several years, it appears like the final act in the Loral story is about to unfold.

Loral is a holding company with two principal assets:...

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