Globalstar, Inc. (NYSE American: GSAT) today announced its financial results for the quarter ended June 30, 2018. Jay Monroe, Chairman and Chief Executive Officer of Globalstar, commented, “As disclosed yesterday, Globalstar, following the unanimous recommendation of its Special Committee of independent directors, and Thermo terminated the proposed merger agreement by mutual written agreement. While I believe that this merger would have positioned Globalstar more strongly for the future, this transaction is no longer the path forward. Instead, we will continue to run the satellite business on a standalone basis. While we remain focused on Globalstar's satellite business and spectrum, if the opportunity to strengthen the Company and enhance shareholder value through a strategic transaction arises, we will consider it."
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