Lockheed Martin to buy satellite maker Terran Orbital in $450M deal

Lockheed Martin is sweeping in to save satellite manufacturer Terran Orbital from its dwindling cash reserves and mounting debt, in a $450 million take-private deal that's expected to close before the end of the year. The defense giant will buy Terran for $0.25 per share and retire its existing debt. Lockheed, which holds a 28.3% stake in Terran Orbital, strategically invested in Terran Orbital through its Lockheed Martin Ventures investing arm in 2017, 2020, and 2022. This will be the first LMV portfolio c ...