Globalstar exploring sale, held talks with SpaceX and others, Bloomberg says

Globalstar (GSAT) is exploring a potential sale and has held early talks with Elon Musk’s SpaceX among other potential suitors, people familiar with the matter told Bloomberg’s Michelle Davis, Ryan Gould and Liana Baker. The satellite company is working with an investment bank to assist it and SpaceX is one of the parties the company is speaking with, but it’s possible another buyer could emerge, the sources said. Shares of Globalstar are up nearly 27% after the news.