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

People & Company News

Diana to Acquire Two Post-Panamax Containerships

Diana Containerships Inc. announced that yesterday it signed, through two separate wholly-owned subsidiaries, two Memoranda of Agreement to purchase from an unaffiliated

Intelsat Records $598 mln Q2 Revenue

Satellite services provider Intelsat S.A. has reported total revenue of $598.1 million and net income attributable to Intelsat S.A. of $60.2 million, or $0.47 per common share on a diluted basis,

ClassNK Releases Guidelines for CNG Carriers

Classification society ClassNK has released its Guidelines for Compressed Natural Gas (CNG) Carriers.   Global economic and population growth is bringing about

 
 
Maritime Security Maritime Standards Naval Architecture Pipelines Pod Propulsion Salvage 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: 0.1047 sec (10 req/sec)