Article: Loral Space & Communications Completes MHR Financing Deal Over Objections From Other Investors.

Loral Space & Communications completed a sale of $300 million of stock to MHR Fund Management LLC, Loral's largest shareholder, Loral announced Feb. 27.

The deal was announced in October and was delayed after other shareholders raised opposition. Investment firms Murray Capital Management Inc. and Highland Capital Management LP labeled it as a "sweetheart deal" that would allow a "stealth takeover" of Loral. MHR was founded by Mark Rachesky, chairman of Loral's board.

Following initial opposition from Murray and Highland, Loral said it would seek alternatives to the original transaction that would include the participation of all interested ...

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