Has Terran Orbital Missed Its Chance to Sell Out to Lockheed Martin?
I hate to say "I told you so" -- but I did.
It's been nearly three months now since Lockheed Martin (NYSE: LMT) offered to buy out its satellite-building subcontractor Terran Orbital (NYSE: LLAP) in a $600 million transaction that valued Terran at a whopping $1 a share.
At the time, Terran Orbital stock was selling for $1.20 per share, which made Lockheed's $1 offer seem not so great. Nevertheless, I argued that Terran was in such dire financial straits, carrying such a heavy load of debt and warrant obligations, and depending so heavily on a questionable contract to build satellites for a low-profile company called "Rivada Space Networks," that Terran's best course of action would be to "take the money and run."
Source Fool.com
