Lockheed Martin’s $450 million acquisition of Terran Orbital seeks to stabilize the satellite manufacturer amid its financial struggles, enhancing Lockheed’s already significant investment in the company.
Despite gaining a substantial deal worth $2.4 billion earlier this year, Terran Orbital faced setbacks as Rivada delayed payments, forcing the satellite manufacturer to adjust its financial outlook.
The acquisition proposal from Lockheed Martin initially valued Terran Orbital over $500 million, but after resistance from Terran, the offer evolved into the current $450 million deal.
With dwindling cash reserves, Terran reported only $14.6 million as of July 31, emphasizing the urgent need for strategic options to address its financial challenges.
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