Antitrust Law Daily Wrap Up, ANTITRUST NEWS: Canadian Firm Receives U.S. Approval to Acquire Commercial Satellite Maker, (Oct 29, 2012)
Organizations Mentioned:Space SystemsLoral, Inc.
By Jeffrey May, J.D.
MacDonald, Dettwiler and Associates Ltd.'s proposed acquisition of Space Systems/Loral, Inc. (SS/L) has been cleared by the federal antitrust agencies. The parties announced on October 26 that early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act had been granted with respect to the transaction.
Canada-based MacDonald, Dettwiler and Associates (MDA) is a provider of advanced information solutions, primarily to the surveillance/intelligence sector and the communications market sector. In June, it agreed to acquire for approximately U.S. $875 million SS/L, a manufacturer of commercial communications satellites, from its parent company, Loral Space & Communications Inc.
Loral is a satellite communications company, based in the United States. SS/L is behind satellite and satellite systems for direct-to-home television, broadband communications, wireless telephony, weather monitoring, and air traffic management. MDA said that the transaction would transform the company into a unique global communications and information company.
Loral owns 64 percent of Telesat, one of the world's largest providers of satellite services. Telesat operates a fleet of telecommunications satellites used to broadcast video entertainment programming, distribute direct-to-home video and broadband data services, and other value-added communications services. Loral also owns 56 percent of XTAR, a joint venture between Loral and HISDESAT, a consortium comprised of leading Spanish telecommunications companies.
Loral's announcement regarding antitrust clearance of the transaction appears at: http://investor.loral.com/releasedetail.cfm?ReleaseID=716654.
MDA's announcement appears at: http://www.mdacorporation.com/corporate/news/pr/pr2012102601.cfm.
News: Antitrust