Loral Space & Communications (LORL), Public Sector Pension Investment Board to Explore Alternatives
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With regard to the previously disclosed 2014 strategic process, after further discussions between Loral Space & Communications (Nasdaq: LORL) and the high bidder in that process, we and the high bidder have been unable to overcome the gap posed primarily by the currency exchange fluctuations, and the discussions have now concluded.
In an effort to continue to maximize shareholder value, we are exploring, together with Public Sector Pension Investment Board, our Canadian co-owner of Telesat, other potential strategic initiatives, including paying a dividend to Telesat shareholders, of which we would use our portion to pay a dividend to Loral stockholders, as well as a combination of Telesat and Loral into a new public company. There can be no assurance as to whether, when or on what terms any of these strategic initiatives or other strategic transaction involving Telesat or Loral may occur, or that any particular economic, tax, structural or other objectives or benefits with respect to any initiative or transaction involving Telesat or Loral’s interest therein will be achieved.
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