- 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.