Exclusive: Loral rejects $7 billion deal to sell itself and Telesat

Loral Space & Communications Inc's (LORL.O) efforts to sell itself and its main asset, Telesat Holdings Inc, broke down after the company failed to agree on a potential $7 billion deal with the buyer group, people familiar with the matter said.

Loral rejected an offer from a consortium involving Ontario Teachers Pension Plan and another Telesat shareholder, Canada's Public Sector Pension Investment Board (PSP), which valued Loral at more $80 per share and Telesat at roughly $7 billion including debt, the people said.

Read the full story on Reuters.

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