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Technology Stocks : Loral Space & Communications
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To: Rocket Scientist who wrote (7457)3/9/2000 7:33:00 PM
From: Rocket Scientist  Read Replies (1) of 10852
 
Loral is mentioned in numerous places in LockMarts 10K filed today. Most notably:

We have approximately a 13.5% fully diluted interest
(in the form of convertible preferred stock) in Loral Space & Communications
Ltd. In February 2000, Lockheed Martin and Loral Space each filed certain
notices under the Hart-Scott-Rodino Antitrust Improvement Act (HSR Act) with the
FTC and the DOJ to convert 45.9 million shares of Loral Space convertible
preferred stock to an equal number of shares of Loral Space common stock. We
will be able to convert the convertible preferred stock following the expiration
of the HSR Act waiting period on March 5, 2000, unless such period is extended
by a request from the FTC for additional information. Also in February 2000,
Lockheed Martin and Loral Space entered into an agreement that would facilitate
our ability to divest our interest in Loral Space, but in no case earlier than
MID-MAY 2000!! (emphasis added).

The estimated fair value of the Corporation's investment in Loral Space &
Communications Ltd., which consists of 45.9 million shares of Loral Space
Series A Preferred Stock, was $750 million at December 31, 1999.

750M$ is about 16.25/share; Says elsewhere that the cost basis of the stock is 393M$ (8 1/2 $/share). At the rate we're going LMart won't have to worry much about capital gains by mid-May.
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