Lockheed Martin, Comsat Combination Completed

Monday, August 07, 2000
Lockheed Martin and Comsat have completed the strategic combination following final approval from the Federal Communications Commission (FCC).

The transaction was accomplished via a one-for-one tax-free exchange of Lockheed Martin common stock for Comsat common stock for the remaining 51 percent of Comsat stock Lockheed Martin did not own. The value of the exchange of common stock is approximately $790 million. Comsat will become an integral element of Lockheed Martin Global Telecommunications, a wholly owned subsidiary of the Corporation comprising Lockheed Martin's telecommunications services business.

The resultant new business, with projected revenues approaching $1 billion, plans to offer services in the U.S. as Lockheed Martin Global Telecommunications (LMGT), while offshore Comsat International operations will retain their current designations.

Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

TOTE Vessel Reported Missing Off Bahamas

The U.S. Coast Guard search and rescue crews have been searching for the lost TOTE Maritime M/V El Faro container ship with 33 crew members on board, which has

Kalmar to Upgrade MSC Terminal VLC (Valencia) Cranes

Kalmar, part of Cargotec, has announced a large contract to heighten and extend the handling capabilities of eight ship-to-shore (STS) cranes at MSC Terminal VLC in Valencia, Spain.

Wärtsilä Debuts Package for hydropower & industrial plant

Wärtsilä Corporation, a global leader in complete lifecycle power solutions for the marine and energy markets, expands into a new market segment, offering a comprehensive package of seals,

Maritime Security Navigation Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1447 sec (7 req/sec)