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Lockheed Martin Makes Bid For Terran Orbital Valued at $606 Million

Cal Biesecker By
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Lockheed Martin Makes Bid For Terran Orbital Valued at $606 Million
Terran Orbital's Bus 1 satellite bus it has provided Lockheed Martin as part of the Space Development Agency's Transport Layer Tranche 0. Photo: Terran Orbital

Lockheed Martin [LMT] on Friday after the close of the stock markets quietly disclosed that it had offered to acquire Terran Orbital [LLAP] for an enterprise value of $606 million, a potential deal the major defense contractor describes as a “strategic priority” in a letter to Terran that was filed with the Securities and Exchange Commission (SEC). Lockheed Martin said in the SEC filing that it is Terran Orbital's largest customer--accounting for 81 percent of Terran backlog through December, 2022--and…

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