Lockheed Martin to take struggling spacecraft manufacturer Terran Orbital private in $450 million deal

Lockheed Martin is buying Terran Orbital, the company announced Thursday, with the defense giant reaching a deal to take the struggling spacecraft manufacturer private. The agreement will see Lockheed acquire Terran at an enterprise valuation of nearly $450 million, below Lockheeed's previous bid of nearly $600 million in March. Lockheed would acquire Terran Orbital's outstanding common stock at 25 cents a share in cash. Additionally, Lockheed will pay off Terran's debt and established a $30 million capital ...