LA PLATA, Maryland — Lockheed Martin is buying small-satellite builder Terran Orbital at an enterprise value of $450 million with an offer of 25 cents per Terran share and the assumption of Terran’s debt.
The transaction, which has been accepted by Terran management, was announced Aug. 15 and follows Lockheed’s earlier offer, in March, of $1 per Terran share, which was not accepted by Terran. Lockheed withdrew that offer in May.
Terran is a regular supplier of small satellite platforms to Lockheed Martin . . .
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