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Article: Loral, MHR To Alter Stock Deal Following Investor Complaints.(Loral Space & Communications Inc., MHR Fund Management LLC)
- Article from:
- Satellite News
- Article date:
- October 30, 2006
CopyrightCOPYRIGHT 2006 Access Intelligence, LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Responding to a complaints from a pair of investors, Loral Space & Communications Inc. and its largest shareholder will consider alternatives to a recent equity financing deal.
Loral asked MHR Fund Management LLC for alternatives to the $300 million deal that would include the participation of all interested shareholders, and MHR is developing a response, Loral announced Oct. 27
Investment firms Highland Capital Management LP and Murray Capital Management Inc. had raised concerns over the MHR deal, labeling it a "sweetheart deal" that would allow a "stealth take-over" of Loral.
Loral announced Oct. 17 that it would sell $300 million of ...