Manifest Space: Lockheed Martins Takeover Attempt with Terran Orbital CEO Marc Bell 3/7/24
Terran Orbital, a small satellite maker which went public in a SPAC deal in early 2022, received an unsolicited takeover offer from supplier and investor Lockheed Martin last Friday. The defense prime already owns 28% of the company and now wants to buy the company in a deal valued just under $600 million\u2014significantly below the market valuation when the company first went public at $1.8 billion. Terran Orbital quickly adopted a poison pill \u2013 or shareholder rights plan- as the company hopes to solicit other offers and strategize accordingly. CEO Marc Bell joins Morgan Brennan to discuss the company\u2019s future as consolidation continues in a shifting satellite market.