Canadian satellite operator Telesat says it will complete its merger with Loral Space & Communications on November 19th and expects its shares to start trading publicly on the Toronto stock market next week. At the same time its shares will be open to trade on the Nasdaq exchange in New York and replace the Loral […]
More details have now emerged on the merger between Ottawa-based Telesat and satellite builder (and shareholder in Telesat) Loral Space & Communications. Key to the long-expected merger solution is the role of Canada’s Public Sector Pension Investment Board (PSP). Under the merger agreement PSP, Loral and Telesat Canada will each become subsidiaries of ‘new’ Telesat […]
A reconstruction between Loral Space & Communications and Canada’s Telesat has been under assorted discussion for years, and years, and then some! The complications around any merger were made especially challenging by joint cross-holdings between Loral and Telesat, and then further compounded by their major shareholder Canada’s Public Sector Pension Investment Board (PSP Investments). Those […]