Entering text into the input field will update the search result below

Loral surges, Reuters reports company exploring sale, has hired CS

Jan. 22, 2014 5:12 PM ETTelesat Corporation (TSAT) Stock, TSAT:CA StockTSATBy: 2, SA News Editor1 Comment
  • Loral (LORL +2.9%) shares surged into the close after Reuters reported the company is exploring a sale. Word of a possible deal surfaced back in Oct., but the new report adds that Mark Rachesky's MHR Fund Management has retained Credit Suisse to prepare for the ball.
  • According to sources, Loral is also discussing a potential joint sale of Telesat with Canada's Public Sector Pension Investment Board. Although Loral holds a 62.8% economic interest, it possesses just 33.3% of the voting stock, making a sale dependent on PIB. The 2 had explored a sale 3 years ago and sought as much as $7B but could not agree on a price.

Recommended For You

Related Stocks

SymbolLast Price% Chg
TSAT
--
TSAT:CA
--