Sri Lanka’s second largest orbital and lunar logistics company Lanka Orbital Logistics has rejected a record takeover bid. The undisclosed offer by teraforming and Helium3 mining giant Weyland Yutani is rumoured to set a global high for an orbital services firm. A spokesperson for director Charles Weyland refused to comment about the rejection.
LOL’s action comes as no surprise to local industry analysts. Sri Lanka’s Ravana Aeronautics has a controlling stake in LOL. Dr Dasaoluwa, the head of Ravana has always stated that LOL’s pioneering space elevator system will not be “snatched” by foreign mega corporations. The bravado comes in the wake of the Ravana groups’ unexpected legal victory over Ramraj Airspace Manufacturing Associates regarding ownership of Shanth International Transport Aviation.
Ironically Dr.Dasaoluwa seems intent on making the Ravana group a mega corporation. According to industry insiders, LOL’s pioneering Indrajit Space Elevator System is squarely aimed at the burgeoning Helium3 mining operations around the sea of Tranquillity. The ISES is said to be capable of maintaining a terminal station at extreme high Earth orbit. It is designed specifically to move high cargo volumes through atmospheric re-entry.
This capability enables LOL to reduce the cost of Helium3 shipments by over 60%. The potential revenue from mining transport services alone would make LOL a giant in the industry. Weyland Yutani remains LOL’s primary customer for transport to its orbital facilities which only heightens the mutual dependence between the two companies. Unverified reports by unnamed industry insiders indicates that LOL is seeking some sort of partnership with Weyland Yutani to make the ISES a reality.
LOL has neither confirmed or denied these rumours. However the carefully worded rejection of the Weylan Yutani offer seems to indicate that price was the issue. Renewed discussion between the two companies in the ultra exclusive resort town of Potuvil Point seems to indicate that the a renewed offer is possible.
In the absence of hard fact, the rumours around the rejection of the take over bit has sent LOL stocks into an all time high. A clear indication of LOL’s prospects in the near future.
— Imaginary Financial Press