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

People & Company News

Great Lakes Shipyard to Build Guatemalan Harbor Tug

U.S. shipbuilding and repair yard Great Lakes Shipyard informs it has signed a contract to build another of its HandySize Class, 3,400 HP twin-screw tugboat for

BAE Systems Welcomes Record Number of Paid Interns

More than 140 university students from across the country are being given a unique insight into working life at BAE Systems, as part of the company’s 12-week summer internship program.

Drydocks World World’s Largest Turret

Drydocks World marked a milestone in completing the world’s largest turret mooring system. At almost 100 meters high, weighing over 11,000 tons and with a diameter of 26 meters,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pod Propulsion Salvage Ship Repair Shipbuilding / Vessel Construction
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: 0.4166 sec (2 req/sec)