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There are 3 articles on this stock available only to PRO subscribers.
at CNBC.com (Feb 18, 2011)
at CNBC.com (Oct 14, 2010)
LORL vs. ETF Alternatives
Thursday, Apr 108:58 AM
Thursday, Apr 108:58 AM| 10 Comments
- 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.
Monday, Mar 34:31 PM
Monday, Mar 34:31 PM| 2 Comments
- Reuters reports Loral (LORL +0.7%) has hired i-bank Perella Weinberg to advise its board on a potential sale.
- The news service reported in January Loral, which owns a majority stake in Canadian satellite network owner Telesat (but a minority voting stake), was working with Credit Suisse regarding a sale, and that it was talking with Canada's public sector pension investment board (another Telesat shareholder) about a joint Telesat sale.
- Any bid for Loral would depend on the support of 38% shareholder MHR Fund Management.
Wednesday, Jan 225:12 PM
Wednesday, Jan 225:12 PM| 1 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.
Monday, Oct 282013, 1:31 PM
Monday, Oct 282013, 1:31 PM| 4 Comments
- Loral (LORL +4.6%) gets its tail in the air as the NYPost reports Chairman Mark Rachesky - owner of 38% of the stock - is putting the company on the block. The hedge funder has reportedly put out feelers to potential buyers, but has not yet hired a banker.
- A favorite of special situation/value players, Loral's principal asset is a 62% stake in Canadian satellite company Telesat. Rachesky turned down $6B for Telesat about three years ago and now - with four satellites launched since - reportedly believes it to be worth $10B (which would put Loral's value at north of $100 vs. $71.96 at the moment). Putting maybe a more realistic price of $7.25B on Telesat, SA Pro's Mike Arnold makes the case for Loral being valued at around $84 per share.
- All of this excludes Loral's 56% stake in XTAR, which Arnold values at about $2 per share.
Saturday, Jun 82013, 10:30 AMLoral (LORL) may be prepping the sale of its 62.8% stake in Canadian satellite operator Telesat, a move - according to Miller Tabak's Michael Broudo (the only WS analyst covering the company) - which could boost the stock price by 25%. A November 2010 bid of $6B was reportedly rejected and since then 4 new satellites have been launched, boosting Telesat's sale value to $6.7B-$7B, says Broudo. At that price, Loral is worth $73-$79 per share vs. yesterday's $59.65 close. Previous: SA Pro's Chris DeMuth's One Last Bite At The Apple With Loral. |Saturday, Jun 82013, 10:30 AM| Comment!
Friday, Dec 142012, 5:29 PMLoral Space & Communications (LORL) names Avi Katz to the role of president of the company, replacing Michael Targoff. Mr. Katz was formerly the company's senior VP, general counsel and corporate secretary. The appointment comes as a result of previously announced restructuring following last month's sale of the company's manufacturing division. Katz will also continue in his role as general counsel and secretary. |Friday, Dec 142012, 5:29 PM| Comment!
Wednesday, Dec 52012, 12:45 PMMidday top 10 gainers: MMR +82%. EBOD +69%. MBLX +32%. PXP +26%. UEPS +25%. MITK +23%. AVAV +16%. CYCC +15%. CIE +15%. PLAB +13%.
Midday top 10 Losers: CHTP -36%. LORL -35%. TIBX -21%. MFRM -21%. ANIK -20%. SINO -19%. BLIN -18%. P -17%. THQI -17%. FIZZ -15%. |Wednesday, Dec 52012, 12:45 PM| 1 Comment
Wednesday, Nov 72012, 6:26 PM
Wednesday, Jun 272012, 11:20 AMLoral Space & Communications (LORL) soars 13.65% into orbit following its agreement to sell its satellite manufacturing unit Space Systems/Loral (SS/L) to Canada's MacDonald, Dettwiler & Associates for $875M. In Toronto, MacDonald, Dettwiler is +24%. Looks like everyone's a winner. |Wednesday, Jun 272012, 11:20 AM| 1 Comment
Wednesday, Jun 272012, 5:09 AMLoral Space & Communications (LORL) agrees to sell its satellite manufacturing unit Space Systems/Loral (SS/L) to Canada's MacDonald, Dettwiler & Associates for $875M. Loral also expects to receive dividends and other payments from SS/L of over $135M. The company will look to use the proceeds to return cash to shareholders. (PR) |Wednesday, Jun 272012, 5:09 AM| Comment!
Friday, May 182012, 11:30 AMLoral Space Systems (LORL +1.8%) says that the Nimiq 6 satellite was successfully launched yesterday from the Baikonur Space Center in Kazakhstan, and deployed its solar arrays early this morning according to schedule. Tomorrow it will begin firing its main thruster to maneuver into geostationary orbit. |Friday, May 182012, 11:30 AM| Comment!
Thursday, Mar 292012, 9:01 AM
Monday, Nov 142011, 2:10 PM
Friday, Apr 12011, 9:37 AMCanadian satellite company Telesat is weighing takeover offers from EchoStar (SATS +0.1%) and the Carlyle Group, and may decide on a sale in the coming days, Bloomberg reports. Telesat, co-owned by Loral Space & Communications (LORL +0.5%) and Canada’s Public Sector Pension Investment Board, may be seeking at least $6B. |Friday, Apr 12011, 9:37 AM| Comment!