Lockheed Martin has received US clearance to complete the first stage of its merger with Comsat. The company will acquire 49% of the commercial satellite communications service provider, but is waiting for Congress to pass legislation allowing it to complete the take-over.
The deal received anti-trust approval after the Federal Communications Commission (FCC) approved Lockheed Martin's designation as an authorised telecommunications carrier, allowing it to merge with Comsat. Even with this approval, Lockheed Martin's ownership is limited initially to 49%.
Source: Flight International