Why Terran Orbital Stock Is Up Today
Shares of space satellite manufacturer and former SPAC company Terran Orbital (NYSE: LLAP) leapt 11.2% through 10:45 a.m. ET on Monday in response to news the company may soon be acquired.
On Friday last week, after the close of stock market trading, CNBC reported that Lockheed Martin (NYSE: LMT) has made a cash offer to acquire Terran Orbital at a price valuing the company at $600 million. Seeing as Terran Orbital currently costs just a hair over $200 million, this appears to be an attractive offer. Indeed, you'd think it would be an offer that Terran Orbital shareholders should jump at.
But not so fast.
Source Fool.com