Exclusive: Loral rejects $7 billion deal to sell itself and Telesat
Loral Space & Communications Inc’s (LORL.O) efforts to sell itself and its main asset, Telesat Holdings Inc, broke down after the company failed to agree on a potential $7 billion deal with the buyer group, people familiar with the matter said.
Loral rejected an offer from a consortium involving Ontario Teachers Pension Plan and another Telesat shareholder, Canada’s Public Sector Pension Investment Board (PSP), which valued Loral at more $80 per share and Telesat at roughly $7 billion including debt, the people said.
