Lockheed Martin Cancels Acquisition Of Orbital Terran

The Orbital Terran acquisition plan was cancelled (photo: dock. Orbital Terran)

JAKARTA Aerospace company Lockheed Martin has canceled the acquisition of Terran Orbital. This news was conveyed by Terran after Lockheed submitted a letter of cancellation to the US Securities and Exchange Commission (SEC). When the cancellation letter was submitted, Terran said that Lockheed had withdrawn the acquisition proposal since April 30. Although Lockheed had officially stated that the acquisition was canceled, the company did not explain the reason. Lockheed stated that they would continue to cooperate with Terran in various space missions. They will also continue to support Terran Orbital and other space technology suppliers focused in the defense industry. "Although we have decided not to continue our offer of purchase of Terran Orbital, we will continue our cooperation in various customer missions supporting the US and its allies," Lockheed Martin told Spacenews. Lockheed submitted an acquisition proposal against Terran Orbital on March 1. Initially, the company planned to pay more than 70 million US dollars (Rp1.1 trillion) to buy waran shares and debt bearing US$313 million (Rp4.9 trillion).

With this plan, the total value of the proposal reached more than 500 million US dollars (Rp7.9 trillion). Unfortunately, Lockheed Martin canceled the acquisition proposal they had submitted and canceled making Terran Orbital a subsidiary. After the acquisition cancellation letter was submitted to the SEC, Terran said that his party was conducting a strategic review. They are considering the best options for the company and still appreciate the decisions Lockheed made. "We appreciate Lockheed Martin's partnership and look forward to the continuation of the collaboration based on our valid Strategic Cooperation Agreement until 2035," said a representative of Terran Orbital.