{"id":82481,"date":"2012-09-13T18:57:06","date_gmt":"2012-09-13T10:57:06","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/u-s-department-of-justice-seeks-additional-information-on-ss-l-acquisition\/"},"modified":"2012-09-13T18:57:06","modified_gmt":"2012-09-13T10:57:06","slug":"u-s-department-of-justice-seeks-additional-information-on-ss-l-acquisition","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/u-s-department-of-justice-seeks-additional-information-on-ss-l-acquisition\/","title":{"rendered":"U.S. Department of Justice Seeks Additional Information on SS\/L Acquisition"},"content":{"rendered":"

[09-13-12] Loral Space & Communications <\/strong>and MacDonald, Dettwiler and Associates (MDA) <\/strong>have each received a second request for information from the United States Department of Justice<\/strong> in connection with an agreement the two companies reached in June for MDA to acquire satellite manufacturer Space Systems\/Loral (SS\/L).<\/p>\n

   MDA and Loral confirmed the receipt of the request Sept. 12. MDA said the Department of Justice is reviewing the transaction as part of the regulatory process under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and that the company would \u201ccontinue to cooperate fully with the Department of Justice as it conducts its review of the proposed transaction in order to respond to any questions the Department may have.\u201d
\n   In a separate statement, Loral said it believes that the focus of the government inquiry is primarily on the satellite communications antenna business in general and, particularly MDA\u2019s antenna business. The second request seeks additional information primarily regarding MDA\u2019s Montreal satellite communications antenna and payload business.
\nThe effect of the second request will be to extend the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act until 30 days after there has been substantial compliance with the requests. 
\n   MDA acquired SS\/L for $875 million in an immediately accretive transaction. The acquisition transforms MDA into a significant commercial communications entity as it adds SS\/L a top global provider of commercial communications satellites to MDA\u2019s portfolio and provides the company with critical mass in the U.S. market.
\nFollowing the acquisition, MDA said it would have combined annual revenues of $1.9 billion as of the 2011 calendar year and a combined backlog of $2.8 billion as of March 31, 2012. SS\/L will retain its brand name and management team.
\n   At the time of the acquisition, MDA President and CEO Daniel Friedmann said the merge would provide global opportunities for his company\u2019s future growth in new markets fueled by strong consumer communications needs.
\n   \u201cThis is a game changing transaction for our company,\u201d said Friedmann. \u201cWith one move, we are bringing together two market leaders to create a unique global communications and information company with a strong commercial focus. Post-acquisition, more than two-thirds of MDA\u2019s total revenues will come from the commercial market.\u201d
\nSS\/L has a U.S.-based workforce of 3,200 employees, and more than one million square feet of facilities. According to Futron\u2019s Satellite Orders Report, SS\/L has been awarded more commercial satellite contracts worldwide than any other company since 2005. Its full-year revenues for 2011 were $1.1 billion, with pro-forma operating EBITDA of $153 million.
\n <\/p>\n","protected":false},"excerpt":{"rendered":"

[09-13-12] Loral Space & Communications and MacDonald, Dettwiler and Associates (MDA) have each received a second request for information from the United States Department of Justice in connection with an agreement the two companies reached in June for MDA to acquire satellite manufacturer Space Systems\/Loral (SS\/L).    MDA and Loral confirmed the receipt of the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-82481","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/82481"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=82481"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/82481\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=82481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=82481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=82481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}