• Chris DeMuth Jr.
    Loral ($LORL)'s Telesat discussing "other recent developments" (http://bit.ly/1mJZN18) in 1 week on Thursday May 1, including $VSAT win and
    4/24/14
    Reply (14)
    • Chris DeMuth Jr.: possibly deal process.
      4/24/14
    • Special Situations and Arbs: $VSAT win? Did you see/hear something?
      4/24/14
    • Chris DeMuth Jr.: About +$6/share for $VSAT, -$2.25/share for $MDA, -$9.25/share for $LORL. But probably at least half priced in already so $LORL -$4 in AM.
      4/24/14
    • Spidron: Other remedies key, no? E.g., risk if injunction + MDA claims $LORL didn't use best efforts to settle. How do you think that gets priced in?
      4/24/14
    • dmanipplay: Need to find out if jury also found infringement willful. also verdict was only for Jupiter. More to come. what buyer steps in with this?
      4/24/14
    • Spidron: I claim no expertise, but aren't enhanced damages unlikely regardless? Any sense of how long till we have all of judge Huff's rulings?
      4/24/14
    • Chris DeMuth Jr.: Enhanced damages are unlikely, in my opinion. Probably three to four months for all rulings.
      4/25/14
    • Special Situations and Arbs: at least initially it looks like it was all priced in.....I guess in the world of valuation M&A trumps everything
      4/25/14
    • Chris DeMuth Jr.: Yep! all price. I wrote >$5 mil of $75 May $LORL calls and wrote the same $-figure of $VSAT $60 puts to take edge off. Long $LORL for deal.
      4/25/14
    • Harlan Kessler: Does the jury's decision delay the deal? Or will the current verdict, $283 mm, be used as a "worst-case" scenario in negotiations?
      4/25/14
    • Chris DeMuth Jr.: That is a great question. No, I don't think that it does. The timing issue is a complex one involving US taxes and Canadian corporate law.
      4/25/14
    • Chris DeMuth Jr.: It is solvable but could take months to solve.
      4/25/14
    • Harlan Kessler: Understood, thanks
      4/25/14
    • jaginger: Chris, given your call write, you expect buyout above $75, but just not expecting it to happen before May 17. That correct?
      4/25/14