Bloomberg: Ontario Teachers Pension Plan front-runner to acquire Loral

|About: Loral Space and Communicati... (LORL)|By:, SA News Editor

Loral Space (LORL) +7.7% premarket as Bloomberg reports Ontario Teachers’ Pension Plan is the front-runner to acquire LORL's Telesat for ~$7B including debt, or at least $80/share.

The Telesat purchase apparently would come in two pieces: buying LORL, which owns 63% of the company, and acquiring the rest from Canada’s Public Sector Pension Investment Board, which co-owns the satellite operator.

The discussions indicate that LORL’s top shareholder, Mark Rachesky’s MHR Fund Management, and PSP are now working together to get a deal completed.